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ITOCHU CORPORATION versus FAYSAL BANK LIMITED

Banking Companies (Loans, Progress, Credit and Recovery of Financial Issues) Ordinance 1997 Section 9 (2) Civil Procedure Code (v. 1908), Sections 10 and 151 Suits for Collection of Debt etc. Application for establishment of proceedings under Section 151 The CPC retention section 10, the CPC, did not apply to the suit, specifically seeking suits filed under the Banking Companies (Loans, Progress, Credit and Recovery of Finance) Act, 1997 ? , The Civil Procedure Code was not extended to proceedings until the cases under the banking jurisdiction, section 10, CPC, but under section 151 the CPC should be regarded as a non-existent but inherent option, c. PCs can be used to prevent legal proceedings from being legalized to avoid controversial decisions. The power inherent in assisting justice, no doubt, was a recognized proposal of law, but the negative clause contained in Section 9 (2), Banking Companies (Law Recovery), Advance, Credit and Finance (Act 1997). , Which excluded the application of Section 10, the CPC had a special effect when the purpose of this section was to continue the proceedings under special law and to thwart any attempt. Was. The negative supply contained in Section 9 (2), the Banking Companies (Debt, Advancement, Credit and Recovery of Financial Resources) Act, 1997, was prohibited from using the inherent power to prevent legal proceedings under this purpose. And it was said that options can only be used if specific provisions do not exist. online advocate from Lodhran lawyer