Banking Court: 2013 CLD 504 KARACHI HIGH COURT SINDH Ss. 2(c), 2(a), 7 & 9---Suit for recovery of loan was decreed against appellant---Contention of the appellant was that he had not obtained the finance facility, was neither a borrower nor guarantor and had signed all documents in the capacity of a witness only---Validity---Perusal of documents revealed that same were signed by the appellant as a witness only and was not an executing party who could be held liable in terms of the agreement, and therefore, he could not be sued under the Financial Institutions (Recovery of Finances) Ordinance, 2001---Banking Court, under the Ordinance had jurisdiction to resolve the controversy between the financial institution and the customer with regard to any finance, whereas, in the present case, the appellant was neither a financial institution nor a customer---No liability whatsoever of the plaintiff Bank for repayment could be created or received from the appellant---Decree of the Banking Court was set aside---Appeal was allowed, in circumstances.
Posted on: Sat, 24 Aug 2013 07:46:40 +0000
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