Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------S. 9--- Constitution of Pakistan, Art. 199---Constitutional petition---Maintainability---Petitioner's plea was that he had mortgaged one property with the Bank, which had issued letter to Sub-Register not to accept without its NOC, registration of sale deed of 9 other properties belonging to the petitioner---Bank's plea was that petitioner had availed finances for such 9 properties, which he could not sell without repaying amount of finance---Validity---Banking Court had jurisdiction to decide such dispute pertaining to financial transaction---Banking Court had passed restraint order against such properties in a suit filed by Bank---Petitioner had already filed suit in Banking Court challenging validity of such letter--- High Court dismissed constitutional petition in circumstances. ORDER Case of the petitioner is that he mortgaged the property bearing No. 27-C, Rahat Lane 3, Phase 6, D.H.A Karachi as surety for the finance availed by him from respondent No. 2. However the respondent No.2 has issued a letter dated 27-3-2008 to the Sub-­Registrar-I Clifton Town Karachi (respondent No. 1) blaming that 9 properties listed in the letter have been purchased by the petitioner from the financial facilities extended to him by the respondent No.2, therefore, transfer of these properties may not be accepted unless respondent No.2 gives its no objection. Grievance of the petitioner is that he mortgaged only one property i.e. 27-C, Rahat Lane 3, Phase 6, D.H.A Karachi but when he sought registration of sale deed for other 9 properties, Sub-Registrar-I, Clifton Town Karachi refused to register these properties without any lawful ground. Case of the respondent No. 2 on the other hand, is that Morabaha transactions were extended to the petitioner for these 9 properties and petitioner unless repays the entire amount of finance, these 9 properties cannot be sold. It is also the case of the petitioner that though the advances were extended to the petitioner and these 9 properties were purchased after the finance was extended by the respondent No. 2 but the finances that…

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