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ACT XV OF 1991 ACT XV OF 1997 BANKING COMPANIES (RECOVERY OF LOANS, ADVANCES, CREDITS AND FINANCES) ACT, 1997 An Act to repeal, and with certain modifications to consolidate and re‑enact the Banking Companies (Recover, of Loans) Ordinance, 1979 and the Banking Tribunals Ordinance, 1984 [Gazette of Pakistan, Extraordinary, Part I, 2nd June, 19971 No.F.9(19)/97‑Legis., dated 2‑6‑1997.‑‑The following Act of Majlis‑e 3hoora (Parliament) received the assent of the President on the 31st May, 1997 s hereby published for general information: Whereas it is expedient further to repeal and with certain modifications to consolidate and re‑enact the Banking Companies (Recovery of Loans) Ordinance, 1979 (XIX of 19,79) and the Banking Tribunals Ordinance, 1984 (LVIII of 1984); It is hereby enacted as under:‑‑ 9. Procedure of Banking Courts.‑‑(1) Where a borrower or a customer or a banking company commits a default in fulfilling any obligation with regard to any loan or finance the banking company or, as the case may be, the borrower or customer may institute a suit in the Banking Court by presenting a plaint duly supported by a statement of account which shall be verified on oath in the case of a banking company by the Branch Manager or such other officer as the Board of Directors of a banking company may authorise in this behalf. Copies of the plaint shall also be filed along therewith in sufficient numbers so that there is one copy for each defendant and one extra copy. (2) The provisions of section 10 of the Code of Civil Procedure, 1908, shall have no application for and in relation to suits filed hereunder. (3) On a plaint being presented to the Banking Court a summons in Form No.4 in Appendix 'B' to the Code of Civil Procedure (Act V of 1908), or in such other form as may, from time to time, be prescribed by rules, shall be served on the defendant through the bailiff or process‑server of the Banking Court, by registered post acknowledgement due, by courier and by publication in one English language and one Urdu language daily newspaper and service duly effected in any one of the aforesaid modes shall be deemed to be valid service for purposes of this Act. In the case of service of the summons through the bailiff or process‑server a copy of the plaint shall be attached therewith and in all other cases the defendant shall be entitled to obtain a copy of the plaint from the office of the Banking Court without making a written application. The Court shall ensure that the publication of summons shall take place in newspapers with a wide circulation within its territorial limits. (4) In any case in which the summons has been served on the defendant as provided for in subsection (3) the defendant shall not be entitled to defend the suit unless he obtains leave from the Banking Court as hereinafter provided so to defend the same; and, in default of his doing so, the allegations of fact in the plaint shall be deemed to be admitted and the Banking Court may pass a decree in favour of the plaintiff on the basis thereof or such other material as the Court may require in the interests of justice.