MCB BANK LIMITED vs ADEEL SHAHBAZ STEEL MILLS Preamble — 2023 CLD 655 LAHORE-HIGH-COURT-LAHORE

Case information

Citation: 2023 CLD 655 LAHORE-HIGH-COURT-LAHORE
Court: Lahore High Court
Year: 2023
Reporter: CLD
Parties: MCB BANK LIMITED vs ADEEL SHAHBAZ STEEL MILLS Preamble
Subject matter: Banking

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

MCB BANK LIMITED VS ADEEL SHAHBAZ STEEL MILLS Preamble---Scope---Financial Institutions (Recovery of Finances) Ordinance, 2001 was enacted by the Government to ensure speedier recovery of the finances advanced by the financial institutions and to make the banks recovery law more effective---Preamble to the Act provides that it was enacted to expedite the process of stuck-up loans from the unscrupulous customers/debtors of the banks.

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