This appeal under section 16 of Banking Companies (Recovery of Loans, Advances, Credits and Finances) Ordinance, 1997 has been filed to call in question order dated 4-3-2000 passed by the Judge Banking Court, Sahiwal.
2. The facts giving rise to the present appeal are that the appellant and respondents Nos.2 to 5 had obtained a loan of Rs.4 Lacs on 23-11-1992 from respondent No. 1. Respondent No. 1 instituted a suit for the recovery of loan amount in the Court of Banking Judge, Sahiwal which was decreed vide judgment and decree dated 3-11-1999, in favour of respondent No. 1. The Judge, Banking Court ordered the appellant vide judgment dated 4-3-2000 to deposit a sum of Rs.1,25,000 on 16-11-1999 and remaining amount to be paid in 12 equal monthly instalments. The appellant failed to comply with the order of Banking Judge. Thereafter, the appellant filed Writ Petition No. 84 of 2000 in the High Court which was dismissed as withdrawn to file a fresh application before the Banking Judge.
3. The appellant and respondents Nos.2 to 5 filed an application before Banking Judge praying therein that the remaining amount be recovered in 24 equal monthly instalments instead of 12. The learned Banking Judge, vide impugned order, dismissed the application.
4. Learned counsel for the appellant contended that due to financial hardships the appellant and respondents Nos.2 to 5 failed to deposit the amount in 12 monthly instalments. The appellant is willing to make the payment provided the appellant is allowed to make the payment in 24 easy instalments.
5. When confronted with the proposition, learned counsel for the appellant has'not been able to refer any law empowering this Court to make the instalments of the decretal amount. The appellant and respondents Nos.2 to 5 have themselves admitted in the Court to make the payment in 12 equal monthly instalments. No case was pending before the Banking Court, being functus officio rightly dismissed the applications of the appellant. Learned counsel for the appellant has not been able to point out any illegality in the impugned order.
For the foregoing reasons we are constrained to dismiss this appeal in limine. Order accordingly.