| Case ID |
1ab8951e-8f37-4883-be4a-11ca2809198c |
| Body |
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| Case Number |
Civil Appeals Nos. 2561 to 2568 of 2016 and Crimin |
| Decision Date |
May 15, 2015 |
| Hearing Date |
|
| Decision |
The Supreme Court of Pakistan ruled on the jurisdiction of Banking Courts established under the Financial Institutions (Recovery of Finances) Ordinance, 2001, determining that these courts have exclusive jurisdiction to try offences related to financial institutions. The Court emphasized the importance of distinguishing between general and special laws, confirming that the Ordinance supersedes other laws in cases of conflict, particularly concerning dishonoured cheques and financial agreements. The decision clarified that financial institutions must pursue remedies under the Ordinance, thus preventing the exploitation of concurrent jurisdictions that could disadvantage accused parties. |
| Summary |
In this landmark decision, the Supreme Court of Pakistan addressed the jurisdictional conflict between the Financial Institutions (Recovery of Finances) Ordinance, 2001, and the Offences in Respect of Banks (Special Courts) Ordinance, 1984. The Court clarified that the Banking Courts have exclusive jurisdiction to adjudicate financial disputes, emphasizing the principle that special laws take precedence over general laws. This ruling is significant for financial institutions and customers, as it ensures clarity in legal proceedings related to financial agreements, thereby promoting a fair judicial process. The judgment highlights the importance of statutory interpretation and the application of non obstante clauses in legal frameworks. The case is pivotal for legal practitioners and stakeholders in the financial sector, offering guidance on navigating complex legal landscapes. Keywords: Banking Courts, financial institutions, jurisdiction, legal proceedings, statutory interpretation. |
| Court |
Supreme Court of Pakistan
|
| Entities Involved |
Not available
|
| Judges |
Mian Saqib Nisar, Chief Justice,
Umar Ata Bandial, Justice,
Faisal Arab, Justice
|
| Lawyers |
Shahid Ikram Siddiqi, Advocate Supreme Court for Appellants,
Salman Aslam Butt, Senior Advocate Supreme Court for Appellants,
Haq Nawaz Chatha, Advocate Supreme Court for Petitioners,
Shazaib Masood, Advocate Supreme Court for Petitioners,
Mian Asghar Ali, Advocate Supreme Court for Petitioners,
Rashdeen Nawaz Qasuri, Advocate Supreme Court for Bank of Punjab,
Abdul Hameed Chohan, Advocate Supreme Court for First Women Bank and UBL,
Raja Nadeem Haider, Advocate Supreme Court for Burj Bank,
Sajid Ilyas Bhatti, DAG for FIA,
Razzak A. Mirza, Additional A.-G., Punjab,
Rana Abdul Majeed, Additional P.-G. for the State
|
| Petitioners |
Syed Mushahid Shah and Others
|
| Respondents |
Federal Investment Agency and Others
|
| Citations |
2017 SLD 2958,
2017 CLD 1198
|
| Other Citations |
PLD 1991 SC 258,
2013 SCMR 85,
PLD 1957 SC 157
|
| Laws Involved |
Penal Code (XLV of 1860),
Criminal Procedure Code (V of 1898)
|
| Sections |
1(12),
5,
1(2),
5(1),
5(2),
29(1)
|