Law:

Section:

(a) Industrial Development Bank of Pakistan Ordinance (XXXI of 1961)-------S. 39(3)---Bank claim, enforcement of---Attachment of property---Scope---Properties to be considered for the purposes of S.39(3) of Industrial Development Bank of Pakistan Ordinance, 1961, must be the properties of borrower itself---Exercise of attachment of properties cannot begin with the properties of other persons, if any, liable for payment of the finance, including guarantors; it is only, if all properties specified of the borrower appear insufficient for the purposes of S.39(3) of Industrial Development Bank of Pakistan Ordinance, 1961, then the matter can proceed on to a consideration of the properties of other persons which may be liable to attachment. (b) Industrial Development Bank of Pakistan Ordinance (XXXI of 1961)--- ----S. 39(3)---Civil Procedure Code (V of 1908), S.151---Bank claim, enforcement of---Attachment of property---Pre-conditions--- Non-issuance of show-cause notice---Recalling of attachment order--- Suit was pending against borrower, with regard to recovery of credit facility and to enforce the claim of bank, properties of guarantor were attached under S.39 of Industrial Development Bank of Pakistan Ordinance, 1961---Borrower sought recalling of attachment order---Plea raised by the bank was that the application filed by borrower was beyond the period specified in S.39(7) of Industrial Development Bank of Pakistan Ordinance, 1961---Validity---Issuance of proper show-cause notice under S.39(6) of Industrial Development Bank of Pakistan Ordinance, 1961, was necessary condition for application of S.39(7) of Industrial Development Bank of Pakistan Ordinance, 1961, which was not a standalone provision but was in continuation of an act begun in terms of former subsection---Provisions of S.39(7) of Industrial Development Bank of Pakistan Ordinance, 1961, could not be invoked without a proper show-cause notice being issued, and it itself was a specific order making attachment absolute and such order was passed against the properties in question---No ad interim order of attachment of property of guarantor was made as contemplated by S.39(3) of Industrial Development…

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