SARA FASHION GARMENTS (PVT) LTD. versus AL-BARAKA ISLAMIC BANK
Section 10 Constitution of Pakistan (1973), Article 199 Constitutional petition files a recovery case against the applicant subject to leave for defense of the bank and the banking court granted leave to defend the case on condition of submission of bail. In order to grant leave to defend this case, keeping in view the circumstances of each case, the Banking Court is legally given full authority under Section 10 (9) of the Financial Institutions (Financial Recovery) Ordinance, 2001. The discretionary powers were entrusted to the Banking Court that leave for defense could be granted unconditionally or by betting cash. In the case of or through the Banking Court, the offer of a bail order was approved by the power of Section 10 of the Financial Institutions (Recovery of Finance) Ordinance. And the order in which the order was sought does not constitute anything illegal or weak. High Court Petition Intervention dismissed
Related judgments — Lahore High Court Lahore, 2010
