TANVIR RALIQ versus UNITED BANK LIMITED
Failure to transfer the execution of the Banking Companies (Loans, Progress, Credit and Financial Resources) Act 1997 Section 7 (4) to the Banking Court; I had a residential property auction with the applicant. It was objected to the jurisdiction of the execution court on the basis that the proceedings were to be transferred to the Banking Court, and the appellate court moved the matter to the Banking Court as well. Under section 7 (4) of the Banking Companies (Recovery of Loans) Ordinance, 1979, the implementation of the court was without legal authority and had no legal effect, and using the powers under this provision The execution was transferred to the banking court. The Banking Companies (Debt, Progress, Credit and Recovery of Financial Issues) Act, 1997, the High Court directed this section, was set aside for the trial court to submit a trial order.
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