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MESSRS AMJAD POLYTHENE BAG INDUSTRIES THROUGH SOLE PROPRIETOR versus PUNJAB SMALL INDUSTRIES CORPORATION THROUGH MANAGING DIRECTOR

Sections 2, 9 and 10 of the Banking Companies (Debt, Advancement, Credit and Recovery of Finance) Act, (XV of 1997), Sections 2, 9 and 10 of Punjab Small Industries Corporation were not included under the definition of banking company only. That is given in banking. The Companies (Loans, Progress, Credit and Financial Rehabilitation) Act, 1997, but also fell in appreciation of the financial institution provided under the Financial Institutions (Recovery of Finance) Ordinance, 2001, in the present case the Banking Court The matter was returned. In the case against the corporation that the banking court could not settle the case against Punjab Small Industries Corporation, this is not the case of a banking company. The banking court made a serious legal error in the judgment which needs to be rectified. The court allowed the appeal, set aside the banking court's decision, and observed that the appellant's case for retrieval and the petition for leave approval by the corporation would be appealed to the court. Will be considered pending, which will be decided by the parties after the hearing and in accordance with the law best advocate from Chishtian lawyer