Law:

Section:

(a) Civil Procedure Code (V of 1908)-------O. XXI, R. 66---Sale by auction---Reserve price, fixation of---Object and purpose---Duty of Executing Court---Wisdom behind enacting O.XXI, R.66, C.P.C. is that parties in execution proceedings should be treated alike and rights of decree-holder should not be preferred over the interest of -debtor---Function of Executing Court is to execute decree but at the same time it is also duty of Executing Court to protect rights of -debtor, which should not be jeopardized and scarified at the altar of execution of decree---Duty is caste upon Executing Court to determine reserve sale price of property as Executing Court is to safeguard interests and rights of -debtor and ensure that properties are not sold at throw-away prices---"Reserve sale price" means market price of property. Muhammad Amin alias Jaloo v. Judge Banking Court and others 2011 CLD 280 rel. (b) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 7(i)(a) & 19---Execution of decree---Civil Procedure Code, 1908, applicability of---Banking Court has been empowered to decide objections etc. on the basis of material before it without going in regular trial but relevant substantive law as contained in Civil Procedure Code, 1908, for sale of immovable property continues to be attracted---Under the provisions of S. 7(i)(a) of Financial Institutions (Recovery of Finances) Ordinance, 2001, provisions of Civil Procedure Code, 1908, have been made applicable to proceedings before Banking Court and decree has to be executed in accordance with the provisions of C.P.C.---Any sale conducted and made absolute in violation of Rules provided in C.P.C. can be validly challenged under S. 19 of Financial Institutions (Recovery of Finances) Ordinance, 2001. (c) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----S. 19---Civil Procedure Code (V of 1908), O.XXI, R. 84---Execution of decree---Deposit by purchaser and re-sale on default---Principles---Judgment-debtor filed objection against auction proceedings but Executing Court dismissed the objection and confirmed the auction---Validity---Provision of O. XXI, R. 84, C.P.C. was…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492