| Case ID |
7f88f53f-3ed0-4c77-ba9c-2b4446c4af4c |
| Body |
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| Case Number |
R.F.A. No.751 of 2002 |
| Decision Date |
Jun 16, 2005 |
| Hearing Date |
Jun 16, 2005 |
| Decision |
The Lahore High Court allowed the appeal, setting aside the judgment and decree passed by the Banking Court. The case was remanded for fresh consideration, emphasizing the need for the Banking Court to address the crucial issue of jurisdiction raised by the appellants. The Court found that the Banking Court had committed a grave legal error by failing to address the jurisdictional plea, which was central to the case. The appeal was allowed with no order as to costs, ensuring that the parties could present their arguments regarding the leave to defend the suit anew. |
| Summary |
The case revolves around a dispute over a bank loan recovery where the appellants contended that the Banking Court lacked jurisdiction as the loan was disbursed in a foreign country. The Lahore High Court found that the Banking Court had not addressed the jurisdictional claims raised by the appellants adequately, resulting in a significant legal error. The appeal was allowed, and the case was remanded for a fresh decision, highlighting the importance of jurisdiction in banking disputes. This case underscores the complexities involved in cross-border banking transactions and the critical nature of jurisdictional issues in financial litigations. Keywords include 'bank loan recovery', 'jurisdiction in banking court', 'cross-border financial disputes', and 'legal error in banking cases'. |
| Court |
Lahore High Court
|
| Entities Involved |
HABIB BANK LIMITED,
ALATTAR SPORT DRESSES TRADING
|
| Judges |
MIAN HAMID FAROOQ,
SYED HAMID ALI SHAH
|
| Lawyers |
M.M. Alam Chaudhary,
Muhammad Khalid Mehmood
|
| Petitioners |
Messrs ALATTAR SPORT DRESSES TRADING through Chief Executive
|
| Respondents |
HABIB BANK LIMITED
|
| Citations |
2005 SLD 1764,
2005 CLD 1693
|
| Other Citations |
Not available
|
| Laws Involved |
Financial Institutions (Recovery of Finances) Ordinance
|
| Sections |
S. 10
|