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ORDINANCE XXV OF 1997 ORDINANCE XXV OF 1997 BANKING COMPANIES (RECOVERY OF LOANS, ADVANCES, CREDITS AND FINANCES) ORDINANCE, 1997 An Ordinance to repeal, and with certain modifications to consolidate and re‑enact the banking Companies (Recovery of Loans) Ordinance, 1979 and the Banking Tribunals Ordinance, 1984 (Gazette of Pakistan, Extraordinary, Part I, 4th February, 1997] No.F.2(1)197‑Pub., dated 4‑2‑1997.‑‑‑The following Ordinance made by the President is hereby published for general information: Whereas it is expedient to repeal and with certain modifications to consolidate and re‑enact the Banking Companies (Recovery of Loans) Ordinance, 1979 (XIX of 1979) and the Banking Tribunals Ordinance, 1984 (LVIII of 1984); And whereas the National Assembly is not in session and the President is satisfied that the circumstances exist which render it necessary to take immediate action; Now, therefore, in exercise of the powers conferred by clause (1) of Article 89 of the Constitution of the Islamic Republic of Pakistan, the President is pleased to make and promulgate the following Ordinance, namely:‑‑ 16. Appeal.‑‑(1) Any person aggrieved by a decree or an order refusing to set aside the decree and to permit the defendant to file his reply under subsection (4) of section 9 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 no appeal shall be admitted for hearing unless the appellant deposits in cash with the High Court an ‑amount equivalent to the judgment debt or, at the discretion of the High Court, furnishes security equal in value to such amount: 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) 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. (3) An appeal under subsection (1) may be preferred on any one or more of the following grounds, namely:‑‑ (a) the decision being contrary to law or to some usage having the force of law: or (b) the decision having failed to determine a material issue of law or usage having the force of law; or (c) a substantial error apparent in the procedure provided by or under this Ordinance which may have produced error in the decision on merits. (4) an appeal may be preferred under this section from a decree made ex pane. (5) No appeal, review or revision shall lie against any interlocutory order of the Banking Court.