Discharge of Surety for Loss of Security by Creditor

Mr. Justice Tariq Saleem Sheikh in his judgment has decided the issue regarding discharge of surety for loss of security by creditor financial institution in E.F.A No. 2510 of 2015. 1. This is an appeal under Section 22 of the Financial Institutions (Recovery of Finances) Ordinance, 2001 (the “Ordinance), which impugns Order dated 17-9-2015 passed Read more about Discharge of Surety for Loss of Security by Creditor[…]

Placement of Name on Credit Information Bureau (CIB) List

Mr. Justice Shams Mehmood Mirza in his judgment has decided the issue regarding placement of name on Credit Information Bureau (CIB) list of State Bank of Pakistan in Writ Petition No. 23690 of 2011. 1. This writ petition calls into question the placing of the name of the petitioner on the list of Credit Information Read more about Placement of Name on Credit Information Bureau (CIB) List[…]

Registration of FIR under Pakistan Penal Code and Jurisdiction of Banking Court

Mr. Justice Shahid Karim in his judgment has decided the issue regarding registration of FIR under Pakistan Penal Code and jurisdiction of Banking Court in view of Financial Institutions (Recovery of Finances) Ordinance 2001 in Writ Petition No. 33423 of 2013. 1. This judgment shall deal with two categories of cases. In the first category, we Read more about Registration of FIR under Pakistan Penal Code and Jurisdiction of Banking Court[…]

Deposit of 20% Auction Amount for Entertaining the Appeal

Mr. Justice Muhammad Sajid Mehmood Sethi in his judgment has decided the issue regarding deposit of 20% auction amount for entertaining the appeal in Execution First Appeal No. 76 of 2016. 1. Through this appeal, the order dated 01.12.2015, passed by learned Single Judge of this Court, in Ex. A. No.18-B of 2013 titled MCB Read more about Deposit of 20% Auction Amount for Entertaining the Appeal[…]

Export Refinance Facility, IB-6 Agreement, SBP BSD Circular No. 35 and Statement of Accounts

Mr. Justice Shahid Karim in his judgment has decided the issue regarding export refinance facility, IB-6 agreement, SBP BSD Circular No. 35 and statement of accounts in Civil Original Suit (Banking) No. 7 of 2006. 1. This suit is for the recovery of Rs. 111,030,677.85 along with costs of funds and cost of the suit. Read more about Export Refinance Facility, IB-6 Agreement, SBP BSD Circular No. 35 and Statement of Accounts[…]

Jurisdiction of Banking Court and Obligations of the Bank

Mr. Justice Shahid Karim in his judgment has decided the issue regarding jurisdiction of banking court and “obligations” of the bank in Civil Original Suit (Banking) No. 25 of 2011. 1. This is a suit for declaration, cancellation of documents, permanent injunction and damages filed under the special jurisdiction conferred upon this Court under the Financial Read more about Jurisdiction of Banking Court and Obligations of the Bank[…]

Reinstatement of Removed MCB Bank Limited Employee

Mr. Justice Shujaat Ali Khan in his judgment has decided the issue regarding reinstatement of removed MCB Bank Limited employee in Writ Petition No. 8153 of 2002. 1. By means of this petition, under Article 199 of Constitution of Islamic Republic of Pakistan, 1973, the petitioner has assailed vires of judgments, dated 27.10.2001 and 29.04.2002, Read more about Reinstatement of Removed MCB Bank Limited Employee[…]

Authorization of Officers to File Suits for Financial Institutions

Mr. Justice Shams Mehmood Mirza in his judgment has decided the issue regarding authorization of officers to file suits for financial institutions in Regular First Appeal No. 655 of 2011. 1. This regular first appeal filed under section 22 of the Financial Institutions (Recovery of Finances) Ordinance, 2001 (the Ordinance) calls into question judgment and Read more about Authorization of Officers to File Suits for Financial Institutions[…]

Competence of Financial Institution’s Signatories for Banking Recovery Suit

Mr. Justice Ibad-ur-Rehman Lodhi in his judgment has decided the issue regarding competence of financial institution’s signatories for banking recovery suit on the touchstone of Section 9 of Financial Institutions (Recovery of Finances) Ordinance 2001 in Regular First Appeal No. 201 of 2014. 1. The appellants have challenged the judgment and decree dated 12.02.2014, passed Read more about Competence of Financial Institution’s Signatories for Banking Recovery Suit[…]

Pledgee’s Constructive Possession of Pledged Goods and Conditions on Pledgor

Mr. Justice Faisal Arab in his judgment has decided the issue regarding pledgee’s constructive possession of pledged goods and conditions on pledgor in Civil Petition No. 3729 of 2015. 1. In the year 2009, the petitioner No. 1 obtained finance facility from the respondent No. 1 Bank. The finance was secured by mortgage of immovable Read more about Pledgee’s Constructive Possession of Pledged Goods and Conditions on Pledgor[…]