Appeal Allowed: Victory for House Building Finance Corporation (HBFC)

We are pleased to announce a major success for our client, House Building Finance Corporation (HBFC), in an appeal filed against the dismissal of their plaint due to non-compliance with Section 9(3) of the Financial Institutions (Recovery of Finances) Ordinance, 2001 (“FIO”).

The appeal was heard by the Division Bench of the Lahore High Court (Rawalpindi Bench), comprising Honorable Justices Muhammad Sajid Mehmood Sethi and Jawad Hassan. Our team effectively highlighted the essential requirements of the FIO and assisted the bench on how the plaint met these requirements.

As a result, the court allowed our appeal and directed the learned Banking Court to decide the matter afresh.