' JAWWAD S. KHAWAJA, J.---This appeal impugns the judgment and decree, dated 17-10-1998, passed by the learned Banking Court No, II, Lahore.
2. The facts of this case are straightforward. First Leasing Corporation Limited, respondent No,1, filed a suit against the appellant and 3 others for recovery of a sum of Rs,1,05,41,852. Appellant Mst.
Saloomi Rana. Who was impleaded as defendant No,3, filed an application seeking leave to appear and defend. According to the averments in the said application, it was contended that she had not obtained any finance from the respondent First Leasing Corporation and as such was not liable in respect of any amount payable to the said Company. Even in the plaint, we find, no financing document or guarantee has been imputed to the appellant Mst. Saloomi Rana. The only allegation against her was that she is in possession of a car, one high tech. Camera and a Fax Machine which allegedly were leased by the respondent-Company to Messrs Sipra Television System (Pvt.) Ltd., respondent A No,2. On this basis it is clear that a decree for repayment of finance could not have been passed against the appellant, who was neither a borrower nor guarantor as defined in Financial Institutions (Recovery of Finances) Ordinance.
2001.
3. At most the respondent Leasing Company would be entitled to take possession of the aforesaid items in execution proceedings, if it is determined by the executing Court that the appellant is, in fact, in possession of the said items.
' In view of the foregoing discussion, this appeal is allowed and the impugned judgment and decree, dated 17-10-1998 is set aside to the extent of Mst. Saloomi Rana, appellant, only.