ZIA PERWEZ, J.-- On 7.9.2001 the learned counsel were required to advance their views on the point of jurisdiction in view of amount of claim in this suit with reference to the jurisdiction of this Court in pursuance to section 2(b) of the Financial Institutions (Recovery of Finances) Ordinance, 2001.
2. Mr. Jawed Sarwana, Advocate for the plaintiff, has argued that in view of Financial Institutions (Recovery of Finances) Ordinance, 2001, jurisdiction to try this suit is with the Banking Court as value of the claim in the suit is Rs. 1,81,056.67 only. He placed reliance on sub-section (6) of Section 7 of the present Ordinance and also referred to the provisions of Section 7(6) of the repealed Act XV of 1997). In support of his contentions, he has also placed reliance on the case of Habib Ahmed V.
Hong Kong and Shanghai Banking ,Company (1999 CLC 1953).
3. Mr. Nawab Saeedullah Khan, advocate for the defendants, has stated that the case has already been partly decided as against defendant No.. 1 and decree has been passed ex-parte and presently it is at the execution stage. He stresses upon the fact that initially judgment was passed by this Court exparte against defendant No. 1 and 2 on 14.11.1983, the matter had attained finality. On 6.5.1990 the ex-parte judgment was set aside as against defendant No. 2 only and in these circumstances as the proceedings are on two prompts i.e. An execution to be effected against defendant No. 1 and proceedings in this suit against defendant No. 2, the matter in this nature cannot be transferred to the Banking Court under the Financial Institutions (Recovery of Finances)
Ordinance, 2001.
4. The contentions of the learned counsel have been considered in the light of law as presently is.
Section 4 of the present Ordinance provides as follows:--
5. "4. Ordinance to override other laws.-- The provisions of this Ordinance shall have effect ' notwithstanding anything inconsistent therewith contained in any other law for the time being in force."
This is to be read in conjunction with other provisions of this Ordinance providing for transfer of that proceedings together with the overriding effect conferred to the provisions of this Ordinance. In view of this position, this matter is transferred to the Banking Court competent under section 2(b)(i) of the Ordinance.
5. At this stage learned counsel for the defendants submits that a fix date may be given to appear before the learned Banking Court where this matter will be transferred as he has to come from Lahore. With the consent of learned counsel for the plaintiff, adjourned to 23.11.2001 before the Banking Court of competent jurisdiction where this matter will stands transferred.