Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------S. 19 & 22---Civil Procedure Code (V of 1908), O.XXI, Rr. 89, 90, 91, 92 & 100---Execution of decree---Confirmation of sale---Offer of amount higher than bid amount---After confirmation of sale of immovable property in question appellant filed application before Banking Court offering more than bid amount confirmed in auction---Application filed by appellant was dismissed by Banking Court---Validity---No objection was raised by any party from any quarter with regard to transparency of auction proceedings or bid amount which was offered by auction purchaser, which bid was higher than forced sale value determined in respect of mortgaged property and highest amongst other participants in auction proceedings---Appellant was stranger to entire proceedings who was neither a party in suit nor participated in open auction, came to know about such auction and highest bid offered by auction purchaser for purchase of mortgaged property and had found it convenient to file application before Executing Court by enhancing bid amount, which was offered by auction purchaser in open auction---High Court declined to allow such practice as it would render court proceedings and transactions executed between parties pursuant to court's order as redundant and might destroy public confidence in judicial proceedings---Order passed by Executing Court did not suffer from any illegality or error---Appeal was dismissed in circumstances. Messrs Bela Lubricant Ltd. through Chief Executive and others v. National Bank of Pakistan and others 2009 CLD 1056 and Captain PQ Chemical Industries (Pvt.) Ltd. v. Messrs A.W. Brothers an others 2004 SCMR 1950 ref. ORDER AQEEL AHMED ABBASI, J.---Being aggrieved and dissatisfied by the order dated 11-12-2013 passed by the learned Judge Banking Court No.III, Karachi, in Execution No.167 of 2013, whereby the learned Judge of the said Court was pleased to dismiss application under section 151, C.P.C. of the appellant and confirmed Sale in favour of respondent No.4 with the directions to the Nazir to issue Sale Certificate in favour of the Auction Purchaser/Respondent No.4 and…

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