| Case ID |
0cc5eb71-e386-4265-a181-d4c9db3127f0 |
| Body |
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| Case Number |
Regular First Appeal No.776 of 2001 in C.O.S. No.9 |
| Decision Date |
Dec 12, 2001 |
| Hearing Date |
Aug 01, 2001 |
| Decision |
The Lahore High Court found that the judgment and decree passed by the Single Judge were without jurisdiction due to an oversight concerning the Financial Institutions (Recovery of Finances) Ordinance, 2001. The case was set aside and directed to be sent to the Banking Court, which had the appropriate jurisdiction for the matter. The decision emphasized that the decree could not be dated prior to the judgment date, and the court clarified the jurisdictional errors that occurred. The parties were instructed to appear before the Banking Court on a specified date. |
| Summary |
This case revolves around the jurisdictional authority concerning financial recovery suits, specifically under the Financial Institutions (Recovery of Finances) Ordinance, 2001. The Lahore High Court scrutinized the procedural validity of a decree issued by a Single Judge, which was contested on the grounds of being issued post the enactment of a relevant law that dictated jurisdictional parameters. The appeal highlighted critical legal principles such as the necessity of adhering to the stipulated jurisdiction based on the amount in question, which was less than Rs.50,000,000. The court's ruling underscores the importance of correct procedural adherence within the civil judicial framework, particularly in financial recovery cases. This case serves as a precedent in understanding the intersection of procedural law and financial recovery mechanisms, reinforcing the need for timely and jurisdictionally appropriate actions by judicial bodies. |
| Court |
Lahore High Court
|
| Entities Involved |
NAZIR COTTON MILLS LIMITED,
ISLAMIC INVESTMENT BANK LIMITED
|
| Judges |
JAWWAD S. KHAWAJA,
MUHAMMAD SAIR ALI
|
| Lawyers |
Salman Akram Raja,
Khashnood Akhtar Raja
|
| Petitioners |
NAZIR COTTON MILLS LIMITED
|
| Respondents |
ISLAMIC INVESTMENT BANK LIMITED
|
| Citations |
2002 SLD 2161 = 2002 CLD 612
|
| Other Citations |
Not available
|
| Laws Involved |
Civil Procedure Code (V of 1908),
Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)
|
| Sections |
O.XX, R.7,
Ss.2(c), 7(6) & 22
|