MIAN SAQIB NISAR, J.---Respondent brought a suit for recovery against the appellants/defendants; appellants filed leave applications, which according to the learned counsel for the respondent, are out of limitation. Anyhow, these applications were fixed for hearing on 10-5-2001, when none represented the appellants/defendants, consequently, the appellants/defendants were proceeded ex parte and the suit to the extent of Rs.1,80,21,544 was decreed in favour of the respondent and against the appellants. Aggrieved of the above, the appellants moved an application under section 12 of the Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997, seeking setting aside of the above, which application has been rejected through the impugned order dated 6-10-2001. The main reasoning given by the Court below is that the Court has no jurisdiction to review its own order, judgment or decree.
2. We are afraid, this is not a case of review rather for setting aside ex parte decree, and the appellants, on showing "sufficient cause" for their non-appearance, could seek its setting aside.
Thus, if the provisions of section 12 of the Act, were not applicable, the Court should have exercised its powers under Order IX, rule 13, C.P.C., which by virtue of section 7(2) of the Act, was duly applicable. We are not convinced by the argument of the learned counsel for the respondent that non-appearance of the appellant's counsel on the date of hearing, was deliberate and thus entail the consequences of the ex parte decree. Anyhow, we find that the appellants were, however, bit negligent in pursuing their application for leave to appear and defend, and at least, anyone of them should have been present on that date. But for such negligence to award a decree for the colossal amount shall be too harsh, resultantly, by imposing of Rs.10,000, as costs, which to our mind shall be reasonable compensation to the respondent side, the appeal is allowed, the application for setting aside ex parte order is accepted with the result that the ex parte judgment and decree shall also stand set aside the leave application of the appellants, shall be deemed pending and should be decided by the learned Banking Court within one month from the date of first appearance of the parties before the Court; the parties are directed to appear before the learned Court on 8-5-2003. In case the appellants fail to appear before the Court, on the above date, this appeal shall be deemed to have been dismissed.