Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------Ss. 9 & 19---Constitution of Pakistan, Art.185(3)---Suit for recovery of loan---Execution of decree---Auction of mortgaged property---Petitioners neither were defendants in the suit filed by the Bank nor they were mortgagers, but were owners of the property which was sold in execution of decree obtained by Bank against ­ debtors---One of the petitioners deposited amount in court to defray the costs of auction and to cover the amount at which the mortgaged property was auctioned---Auction of property in question, otherwise was vitiated because the auction-purchaser had failed to make payment of balance amount within stipulated period---Leave to appeal was granted to consider said aspects of the case---Since a short question was involved, the office was directed to fix the appeals for hearing. ORDER JAWWAD S. KHAWAJA, J.---The petitioners in these two cases are statedly neither defendants in the suit filed by the respondent, KASB Bank nor are they mortgagers to secure facilities obtained by the defendants judgment debtors. it is contended that notwithstanding this position the property belonging to the petitioners…

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