Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)------S. 19--- Execution proceedings--- Auction of property by Banking Court through its Nazir--- Validity--- Nazir in such a case would act as "AMEEN" of public property. Petitioner in person. ORDER SYED HASAN AZHAR RIZVI, J.---Through this petition, the petitioner has impugned the order dated 14-10-2008 passed by learned Banking Court-III, Karachi in Ex. No.121 of 2005 arising out of Suit No.59 of 1996, whereby the application under section 151, C.P.C. (wrongly mentioned as Article 151 of Constitution of Islamic Republic of Pakistan) filed by the petitioner was dismissed. 2. We have heard the petitioner, Mirza Adil Baig, learned counsel for the respondent No.1 and perused the material available on record. 3. It was urged by the petitioner that she is the sole proprietor of Messrs Super Traders and by profession a contractor. She stated that in response to an advertisement published by the respondent No.2 in the print media for auction of Shop's Nos.14 and 15 situated on Ground floor, Sub-Plot No.SF/16/5-6, Portion of Plot No.SF-16, Block-B, North Nazimabad, Karachi, she participated through her husband on 16-1-2007 with one pay order No.0311505 in the name of Nazir Banking Court No.III through the Account No.2616 of Saudi Pak Bank, Hyderi Branch of Messrs Super Traders amounting to Rs.150,000 as 25% amount of estimated cost for purchasing of one shop. She further stated that apart from her husband, two others bidders took part in the auction i.e. respondent No.1 and Naeem Ahmed Khan. She categorically stated that on the advice of Nazir of Banking Court No.III her husband and respondent No.1 took part in the auction proceedings with the clear understanding to give offer for both the shops jointly and get one shop each, therefore, the highest bid of Rs.14,00,000 was given by respondent No.1 of the above-noted two shops and both of them had deposited 25% earnest money and later on both of them had deposited remaining amount of Rs.5,50,000 each. She further stated that on account of dispute of lease, the auction purchaser could not be put in physical possession of the shops. She stated that…

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