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MESSRS MUHAMMAD ALI AND BROTHERS THROUGH MANAGING PARTNER versus HABIB BANK LIMITED

Section 6 (6) Banking Companies (Debt, Progress, Credit and Recovery of Financial Affairs) Act (XV of 1997), Sections 4 and 7 (6) Financial Institutions (Financial Recovery) Ordinance (XLVI of 2001), Section 5, 6 and 7 (6) of the Recovery Suite Order of the Banking Tribunal on 18 18 1989, the defendant is directed to deposit some of the money in cash and to provide security for the balance, on behalf of the Banking Court defendant. Failure to comply with such instructions was ordered on 1 10 2001 under section 6 (6) of banking. Tribunals Ordinance, 1984 In the case of M / s Chenab Cement, the entire bench of the High Court [PLD 1996 Lahore 672] abolished section 6 (6) of the Banking Tribunals Ordinance 1984. Due to the unconstitutionality of the Constitution, after the repeal of the Ordinance 1984 rep 1984, all matters pending under it were transferred to the Banking Courts established under the Banking Companies (Loans, Progress, Credit and Financial Affairs) Clause 19974. Cases pending under the Act, 1997, after its cancellation were transferred to the banking courts established under section 5 of the Financial Institutions (Recovery of Finance) Ordinance, the invalidation of the 2001 Banking Court Ordinance, 1984 Could not properly approve and without considering the effect of the decision of the entire Bench High Court. Banking court receives non-binding order and remand for its decision under the terms of Ordinance 2001 tax advocates from Kot Bunglow lawyer