| Case ID |
391ae63f-810c-4322-902f-229bf0a9dedb |
| Body |
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| Case Number |
R.F.A. No.361 of 2004 |
| Decision Date |
Jan 11, 2005 |
| Hearing Date |
|
| Decision |
The appeal was directed against a judgment and decree dated 8-6-2004, whereby the suit filed by the respondent-Bank was decreed for the amount of Rs.4,67,422. The appellant was served through notice in newspapers on 5-5-2004, and their application for leave to defend was submitted on 7-6-2004, which was dismissed as it was filed after the 30-day limit following service. The court found no merit in the appellant's claim that they received the notice on 20-5-2004, as the process server's report indicated that the appellants were not available for service at that time. The court concluded that the application for leave to defend was barred by time and dismissed the appeal, finding no illegality in the original judgment and decree. |
| Summary |
This case revolves around the Financial Institutions (Recovery of Finances) Ordinance, 2001, particularly focusing on the procedures and timelines for filing applications for leave to defend in recovery suits. The Lahore High Court assessed whether the appellants had adhered to the prescribed timelines after being served through newspaper notices. The court found that the appellants failed to file their application within the 30-day window, as stipulated by law, leading to the dismissal of their appeal. The case highlights the importance of understanding procedural law in financial recovery cases, ensuring timely responses to avoid default judgments. Keywords such as 'financial recovery', 'legal proceedings', 'Lahore High Court', and 'financial institutions' are essential for optimizing visibility in legal discussions and searches. |
| Court |
Lahore High Court
|
| Entities Involved |
ZARAI TARAQIATI BANK LTD. (ZTBL)
|
| Judges |
SYED, JAMSHED ALI,
UMAR ATA BANDIAL
|
| Lawyers |
Syed Aftab Sherazi,
Zahoor Anwar Malik
|
| Petitioners |
another,
MAZHAR IQBAL
|
| Respondents |
ZARAI TARAQIATI BANK LTD. (ZTBL)
|
| Citations |
2005 SLD 1761,
2005 CLD 1688
|
| Other Citations |
Not available
|
| Laws Involved |
Financial Institutions (Recovery of Finances) Ordinance, 2001
|
| Sections |
9,
10,
22
|