56,336 recovery suits pending before courts

ISLAMABAD: A total of 56,336 recovery suits involving more than Rs 215 billion have been pending before various banking and high courts.Of these 14,693 cases involving outstanding amount Rs15.69 billion have been pending for more than 10 years.Chief Justice (CJP), Iftikhar Muhammad Chaudhry, said during the proceedings of waived off loans case a fortniht ago that he would direct the courts and banking tribunals where the cases of waived-off loans were pending to settle them in three months.According to a document available to Daily Times, the total number of cases of less than a year duration are 11,157 equalling Rs 84.27 billion, while 14,693 cases worth Rs 15.69 billion filed by banks/DFIs, have been pending before various banking and high courts for more than 10 years.

The total number of suits by banks and DFIs in banking courts and high courts are 23,357. Out of these 6,693 cases are worth Rs 21.06 billion and are less than one year old and 10,011 are worth Rs16.95 billions are cases of one to ten years old.The total number of suits in high courts is 675, worth Rs 105.37 billions. Out of these there are 264 cases worth Rs 54.88 billions and are less than one year old, while 333 cases amounting to Rs 44.49 billions have been pending before the courts for the last one to 10 years.The document mentions that the total executions filed by banks/DFIs in the banking courts and high courts until December31, 2009 are 32,979 cases worth Rs70.16 billions.Out of these 4,165 cases are worth Rs 4.66 billions of less than one year pendency duration, while 19,938 cases totalling Rs 23.50 are of one to 10 years duration, while 8,550 cases worth Rs 4.63 billions have been pending before the banking courts for the last 10 years.In the high court there are 35 cases worth Rs 3.67 billions less than one year old. – Dailytimes