| Case ID |
43f6d571-4ef1-4862-8afb-f45bc9e26e99 |
| Body |
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| Case Number |
Civil Suit No. 329 of 2009 |
| Decision Date |
May 06, 2011 |
| Hearing Date |
|
| Decision |
The court found that the Banking Court had dismissed the appellants' application for leave to appear and defend the suit without properly considering the mandatory requirement of filing a complete and accurate statement of account as per the Financial Institutions (Recovery of Finances) Ordinance, 2001. The court ruled that the statements provided by the respondent bank were inadequate and did not meet the legal standards necessary for admissibility. Consequently, the impugned decree was set aside, and the application for leave to appear and defend was accepted, subject to the submission of a surety bond equal to the decretal amount. The case was remanded to the Banking Court for a fresh decision on the merits in accordance with the law. |
| Summary |
This case revolves around the obligations of financial institutions under the Financial Institutions (Recovery of Finances) Ordinance, 2001, particularly regarding the proper submission of statements of account in recovery suits. The appellants contested the validity of the bank's claims, arguing that the statements lacked necessary certification and completeness. The court emphasized the importance of adhering to statutory requirements to ensure fair trial rights under Article 10-A of the Constitution of Pakistan. The judgment highlights significant issues regarding the admissibility of banking documents and the procedural safeguards necessary to protect the rights of customers against financial institutions. This case is significant in establishing the legal standards for documentation in financial recovery cases and ensuring that customers' rights are upheld in legal proceedings. |
| Court |
Banking Court-III, Multan
|
| Entities Involved |
United Bank Limited
|
| Judges |
Mushtaq Ahmad Tarar,
Atir Mahmood
|
| Lawyers |
M. Suleman Bhatti,
Muhammad Salim Iqbal
|
| Petitioners |
Mushtaq Ahmad Tarar,
Atir Mahmood
|
| Respondents |
United Bank Limited
|
| Citations |
2016 SLD 3374 = 2016 CLD 1471
|
| Other Citations |
2011 CLD 408,
2012 CLD 1302,
2003 CLD 931,
2007 CLD 678,
PLD 1966 SC 684,
2009 CLD 845,
2004 CLD 1117,
2011 CLD 1655,
2012 CLD 141,
2004 CLD 587,
2014 CLD 985,
2006 YLR 1510,
2004 CLD 1338
|
| Laws Involved |
Financial Institutions (Recovery of Finances) Ordinance, 2001,
Bankers' Books Evidence Act, 1891,
Constitution of Pakistan
|
| Sections |
9(2),
10(3)(4),
2(8),
4,
10-A
|