1. SARMAD JALAL OSMANI, CJ. - Vide this Civil Transfer Application, it has been prayed that the Suit No. 494/2009 filed by the Respondent against the Applicant, pending before the learned Banking Court No. IV, at Karachi be consolidated with Suit No. 1163/2009 entitled M/s. Rafi Securities (Pvt.)
2. Limited v. M/s. Soneri Bank Limited filed by the Applicant against the Respondent pending before learned Banking Court No. 1, at Karachi and both the Suits be heard and decided by one learned Banking Court.
3. Learned Counsel for the Applicant has submitted that the issues in both the Suits are same viz. The Applicant has filed Suit against the Respondent for rendition of accounts whereas the Respondent has filed Suit against the Applicant for recovery of loan amount.
4. Consequently, it would be in the interest of justice that both the Suits be consolidated and heard by one learned Banking Judge.
5. On the other hand, Mr. Waqar Ahmed, learned Counsel for the Respondent has submitted that unless leave to Defend Application has been filed by both the Parties in their respective Suits there can be no question of consolidation, as if such Leave to Defend Applications are dismissed, both the Parties would apply for decree which could be executed independently.
6. I have heard both the learned Counsel, In the circumstances of case, I have proposed to them in the. Interest of efficacious administration of justice that perhaps in both the Suits, Leave to Defend Applications could be hard by one learned Banking Judge and if said Applications are granted then both the Suits be consolidated.
7. To this proposition, both the learned Counsel have agreed. Hence, by consent, it is ordered that Suit No. 494/2009 entitled Soneri Bank Limited v. Rafi Securities (Pvt.) Limited pending before the learned Banking Court No. IV, at Karachi is transferred to the learned Banking Court No. 1, at Karachi, where the Suit No. 1163/2009 is pending.
8. The learned Presiding Officer of the learned Banking Court No. 1, at Karachi shall decide the Leave to Defend Applications only and if both the Applications are allowed then both the Suits shall proceed collectively, otherwise independently.
9. Civil Transfer Application stands disposed of in the above terms.