| Case ID |
03f27e3b-b535-4af7-8940-5edf166a34f1 |
| Body |
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| Case Number |
Regular First Appeal No.556 of 2001 |
| Decision Date |
Apr 24, 2003 |
| Hearing Date |
Apr 24, 2003 |
| Decision |
The Lahore High Court upheld the Banking Court's decree against the appellant, affirming that the service of notice via publication in two newspapers was sufficient under the Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997. The court found that the appellant failed to provide evidence that he was out of the country during the notice period, and thus the ex parte decree was valid. The court also ruled that any deficiencies in court fees had been rectified, preventing the appellant from contesting the decree on that basis. The decision confirmed the legality of the service and the correctness of the bank's statement of account, ultimately dismissing the appeal. |
| Summary |
This case revolves around the legal aspects of banking recovery procedures under the Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act of 1997. The Lahore High Court addressed the issues of notice publication, the legality of service, and the erroneous charges of mark-up by the bank. The court emphasized the sufficiency of notice via publication in widely circulated newspapers, as established in precedent cases. The appellant's claims regarding insufficient notice and erroneous charges were dismissed due to a lack of evidence and procedural compliance. The court's decision highlights critical elements of banking law and emphasizes the importance of adhering to statutory requirements in recovery cases, making it a significant reference point for future banking disputes. |
| Court |
Lahore High Court
|
| Entities Involved |
Not available
|
| Judges |
MIAN SAQIB NISAR,
JAWWAD S. KHAWAJA
|
| Lawyers |
Mian Sarfraz-ul-Hassan,
Kh. Aamer Farooq
|
| Petitioners |
Not available
|
| Respondents |
UNION BANK LIMITED THROUGH BRANCH MANAGER
|
| Citations |
2004 SLD 699,
2004 CLD 1555
|
| Other Citations |
Messrs Ahmad Autos and another v. Allied Bank of Pakistan Limited PLD 1990 SC 497,
Siddique Khan and 2 others v. Abdul Shakur Khan and another PLD 1984 SC 289
|
| Laws Involved |
Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997,
Financial Institutions (Recovery of Finances) Ordinance, 2001
|
| Sections |
9,
7,
15,
9(5),
10(2),
12,
7,
17
|