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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:‑‑ 21. Appeal.‑‑(1) Subject to subsection (2), any person aggrieved by a decree or an order refusing to set aside a decree, or an order permitting or preventing the sale of property, or a sentence passed by a Banking Court established under section 4, may, within thirty days of such order, decree or sentence, prefer an appeal to the High Court: Provided that the admission of the appeal shall not per se operate as a stay, and nor shall any stay be granted therein unless the appellant deposits in cash with the High Court an amount equivalent to the amount due, or, at the discretion of the High Court, furnishes security equal in value to such amount; and in the event of a stay being granted for a part of the decretal amount only the requirement for a deposit in cash or furnishing of security shall stand reduced accordingly; Provided further that where the claim of the decree‑holder is based on the default of the defendant in payment of agreed instalments, the deposit shall be made or, as the case may be, the security furnished to the extent of the amount of instalments in default. (2) The High Court shall, at the stage of admitting an appeal, or at any time thereafter either suo motu, or on the application of the decree‑holder, decide by means of a reasoned order whether the appeal is to be admitted in part or in whole depending on the facts and circumstances of the case. (3) An appeal under subsection (1) shall be heard by a Bench of not less than two Judges and, in case the appeal is admitted, it shall be decided within ninety days from the date of admission. (4) An appeal may be preferred under this section from a decree passed ex parte (5) No appeal, review or revision shall lie against any interlocutory order of the Banking Court other than an order passed under subsection (6) of section 18.