Law:

Section:

(a) Civil Procedure Code (V of 1908)-------O.II, R.2---Omitting of claim---Effect---If appellant omits to sue or relinquish any portion of his rights, entitlements and claims, he is precluded from reagitating such claim or grounds in subsequent proceedings or appeal. (b) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----S. 19---Civil Procedure Code (V of 1908), O.XXI, R.89---Execution of decree---Setting aside of sale---Principle---Act of court---Banking Court disposed of all applications while confirming auction proceedings in favour of auction purchaser and claim of objection petitioner was misconceived---Effect---Inadvertence, mistake, error or irregularity on the part of court could not take away rights of auction purchaser which accrued in his favour when he deposited bid amount as provided under law---Both applications under O.XXI, Rule 89, C.P.C. were filed without substantial compliance of O.XXI, Rule 89(1)(a) and (b), C.P.C. and it could be considered as if no such applications had been preferred---High Court declined to interfere in the order passed by Banking Court, whereby objections petitions were dismissed and sale was confirmed in favour of auction purchaser---Appeal was dismissed in circumstances. Hudaybia Textile Mills Ltd. v. Allied Bank of Pakistan PLD 1987 SC 512; United Bank Limited v. Messrs A.Z. Hashmi (Pvt.) Limited 2000 CLC 1438; Tribhovandas v. Ratilal AIR 1968 SC 372; Unicom Enterprises v. Banking Court No. 5 2004 CLD 1452 and Lutufr Rahman v. Mst. Tahera Khatun and others PLD 1961 Dacca 303 ref. JUDGMENT MUHAMMAD SHAFI SIDDIQUI, J.---This appeal is arising out of order dated 21-1-2012 passed in Execution Application No.36 of 2001 in terms whereof the application under Order XXI, Rule 89 read with section 151, C.P.C. was disposed of. Brief facts of the case are that the respondent No.1 filed suit bearing No. 763 of 1995 (New No.1401 of 2000) for recovery of Rs. 96,44,648 against one Tariq Aziz, Mrs. Farhana Tariq, Khalid Aziz and predecessor of appellants Nos.1, 2 and 3. The Banking Court No.II at Hyderabad passed the judgment and decree dated 30-5-2001 and 15-6-2001 respectively. Subsequently the execution…

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