' JAWWAD S. KHAWAJA, J.--- This appeal impugns the judgment and decree, dated 3-4-2001, passed against the appellants, who was defendant No,5 before the learned Banking Court and 4 others. The appellant-defendant submitted an application seeking leave to appear and defend.
2. The facts of this case are simple. The respondent-Bank had filed a suit against Messrs Regent Dyeing and Finishing Mills (Pvt.) Limited, respondent No,2, which had availed facilities from the respondent-Bank. Respondents Nos.3, 4 and 5, who were directors and principal shareholders of the respondent-Company, had executed guarantees in favour of the respondent-Bank.
3. The appellant-defendant is neither a shareholder nor a Director of the respondent-Company.
Furthermore, the sanction letter of the respondent-Bank as well as the letter dated 8-8-1997 issued by the respondent-Company to the respondent-bank show that the appellant was not required to execute a guarantee to secure facilities availed by the respondent-Company from the respondent-Bank.
4. The appellant-defendant in his application seeking leave to appear and defend disclosed the above facts. He also expressly alleged that he had not executed any guarantee in favour of the respondent-Bank. It was further stated in the aforesaid application that the appellant-defendant was not connected with the respondent-Company as a shareholder or as a Director. These averments in the appellant's application seeking leave to appear and defend, coupled with the circumstances noted above that he is not even a shareholder of the Company, and considering the letters of the Bank and of the respondent-Company, referred to above, we have reached the conclusion that the appellant-defendant did disclose a bona fide and serious defence to the suit filed by the respondent-Bank. In these circumstances, his application seeking leave to appear and defend ought to have been allowed by the learned Banking Court.
' For the foregoing reasons, we set aside the impugned judgment and decree to the extent of the appellant only. His application seeking leave to appear and defend is allowed. The appellant shall, therefore, submit his written statement before the learned Banking Court within three weeks from today. The matter to the extent of the Bank's claim against the appellant shall therefore, proceed as a regular long cause.
' This appeal is allowed in the above terms. The office shall ensure that the file of the case is sent to the Banking Court within one week from today.