| Case ID |
5a52d866-4a72-45ef-b128-daf7b1350a0e |
| Body |
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| Case Number |
Regular First Appeal No.14 of 2004 |
| Decision Date |
Mar 14, 2005 |
| Hearing Date |
|
| Decision |
The Lahore High Court dismissed the appeal filed by Shahid Farooq Sheikh against Allied Bank of Pakistan Limited. The court found that the appellant's leave application did not meet the necessary legal requirements under section 10(4) of the Financial Institutions (Recovery of Finances) Ordinance, 2001. Consequently, the Banking Court's decree in favor of the bank was upheld. The court emphasized that a leave application must contain specific information, and failing to do so would result in its dismissal. The appeal was deemed devoid of merit, and the court ruled that no costs would be awarded. |
| Summary |
This case revolves around the Financial Institutions (Recovery of Finances) Ordinance, 2001, specifically concerning the processes involved in filing a leave application to defend a suit. The Lahore High Court addressed the critical requirements that must be included in such applications, emphasizing the importance of adhering to the ordinance's stipulations. The court highlighted the necessity for detailed disclosures in the leave application, including the amounts owed and the payments made by the defendant. The outcome reinforced the legal principle that a failure to comply with procedural requirements could lead to the dismissal of the application and the subsequent ruling in favor of the plaintiff, in this case, the Allied Bank of Pakistan Limited. The judgment serves as a significant reference for future cases involving financial recovery and the procedural obligations of defendants in banking disputes. Keywords: Financial Institutions Ordinance, leave application, Lahore High Court, banking disputes, procedural requirements. |
| Court |
Lahore High Court
|
| Entities Involved |
ALLIED BANK OF PAKISTAN LIMITED
|
| Judges |
MIAN HAMID FAROOQ,
SYED HAMID ALI SHAH
|
| Lawyers |
Ch. Muhammad Masud Akhtar Khan,
Masud Ashraf Sheikh
|
| Petitioners |
SHAHID FAROOQ SHEIKH
|
| Respondents |
ALLIED BANK OF PAKISTAN LIMITED
|
| Citations |
2005 SLD 1714,
2005 CLD 1489
|
| Other Citations |
Mst. Alam Bibi v. Akbar Ali and others 2001 MLD 2007,
Haji Ali Khan & Company, Abbottabad and 8 others v. Messrs Allied Bank of Pakistan Limited, Abbottabad PLD 1995 SC 362,
Province of the Punjab through Member, Board of Revenue, (Residual Properties), Lahore and others v. Muhammad Hussain through Legal Heirs and others PLD 1993 SC 147,
Bank of Khyber v. Messrs Spencer Distribution Ltd. and 14 others 2003 CLD 1406
|
| Laws Involved |
Financial Institutions (Recovery of Finances) Ordinance, 2001
|
| Sections |
10,
9,
22
|