INTERNATIONAL FINANCE INVESTMENT AND COMMERCE BANK LIMITED versus UNITED BANK LIMITED
The Banking Companies Reorganization of Loans Ordinance 1997 Section 23 Banking Companies (Loans, Progress, Credit and Recovery of Finance) Act (XV of 1997), Section 28 Civil Procedure Code (VV 1908), and XXXVIII, R5 Constitution of Pakistan (1973) )), Article 199 The effect of the termination of the attachment law of property before the judgment for the recovery of the debt was filed by the plaintiff bank under R5CPC under O XXXVIII, before the judgment the properties and securities of the accused were attached. To the Banking Tribunal ordered the attachment of properties and securities on the date of the defendants when the recipient officer of the court as a presiding officer The banking companies (Loans, Progress, Credit and Finance Recovery) Ordinance 1997 and the Banking Companies (Debt Restoration, Progress, Credit and Finance) Act 1997 had ceased to function because of the Banking Companies (Recovery of Loans) Ordinance 1979 And the Banking Tribunals Ordinance 1984, whereby after the termination of the Banking Tribunal W ordinance and the Act, the Banking Tribunal was empowered to act, ordering the defendants' property and securities order was illegal and without legal authority. The court declared.
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