113/2011 I. A Al Baraka Bank Pvt Ltd (Appellant) V/S Raja Ashfaq Hussain (Respondent)
Sindh High Court
Bench: Hon'ble Chief Justice Mr. Justice Muhammad Shafi Siddiqui, Mr. Justice Mushir Alam
Order Date: 07-DEC-12
We may observe that the aforesaid provision of Section 9 of the Financial Institutions (Recovery of Finances) Ordinance 2001 is not comprehensive and exhaustive in deriving conclusion regarding the jurisdiction of the Court as the recourse in terms of Section 15 have to be made to discover as to what is the precise jurisdiction vested on the Banking Court under the Ordinance in terms of Section 15. No doubt that the preamble/title of the Ordinance provides that it has been primarily for the purpose of recovery of finance. The other recourse that is available under section 15 of the Ordinance, 2001 is off-course is the mechanism which provides for the recovery of the loan by way of sale of the mortgaged property with or without intervention of the Court and the jurisdiction in terms of Section 15 of the Ordinance, 2001 is also open and extended as far as the disputes of the sale of the mortgaged property is concerned. Such disputes if at all, raised are to be dealt with in terms of Section 15 of the Ordinance, 2001. There is no cavil to this proposition and perhaps to this extent the jurisdiction of the Banking Court extends so far as it relates to a dispute for the sale of the mortgaged property, which is not the case here.Full judgment text for this case is not yet available on Pakistan Law Reports. Check the official Sindh High Court case law portal for the complete order.
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