| Citation(s) |
|---|
| 2017 SLG 47 2017 SLD 47 2017 PLD 1 |
Supreme Court of Pakistan
Civil Appeals Nos. 104-L, 106-L and 107-L of 2015, Dated10th October, 2016. Hearing Date : 10th October, 2016.
MIAN SAQIB NISAR, MANZOOR AHMAD MALIK AND IJAZ UL AHSAN, JUSTICE
Uzair Karamat Bhandari, Advocate Supreme Court, Mrs. Tasneem Amin, Advocate-on-Record for Appellants (in C.A.No.104-L of 2015).Shehryar Kasuri, Advocate Supreme Court for Appellant (in C.A.No.106-L of 2015)Asad Javed, Advocate Supreme Court and Mahmud
Civil Appeals Nos. 104-L, 106-L and 107-L of 2015, Dated10th October, 2016. Hearing Date : 10th October, 2016.
MIAN SAQIB NISAR, MANZOOR AHMAD MALIK AND IJAZ UL AHSAN, JUSTICE
Uzair Karamat Bhandari, Advocate Supreme Court, Mrs. Tasneem Amin, Advocate-on-Record for Appellants (in C.A.No.104-L of 2015).Shehryar Kasuri, Advocate Supreme Court for Appellant (in C.A.No.106-L of 2015)Asad Javed, Advocate Supreme Court and Mahmud
ALMEEZAN INVESTMENT MANAGEMENT COMPANY LTD. AND 2 OTHERS --AppellantSVS.WAPDA FIRST SUKUK COMPANY LIMITED, LAHORE AND OTHERS --RespondentS
Law:
Section:
(a) Civil Procedure Code (V of 1908)--- ----S. 88---Interpleader suit---Origins, scope and description of the law of interpleaders stated. (b) Civil Procedure Code (V of 1908)--- ----S. 88 & O. XXXV, R. 1---Interpleader suit---Pre-requisites---Certain conditions must be satisfied before an interpleader suit could be competently filed; firstly, there must be rival claimants; secondly, the same debt, sum of money or other property, moveable or immoveable, must be claimed by two or more claimants, and thirdly, the person from whom such debt, sum of money etc. was being claimed must claim no interest in the same. (c) Civil Procedure Code (V of 1908)--- ----S. 88 & O. XXXV, R. 1---Interpleader suit---Maintainability and pre-requisites---Sukuk certificates---Dispute over ownership of sukuk certificates---Sukuk certificates were issued by respondent-company, which was wholly owned by a statutory authority (WAPDA)---Claimants (a corporation and several banks) made conflicting claims to the sukuk certificates ------------ Respondent-company and statutory authority filed an interpleader suit under S.88, CPC before the civil court stating that they claimed no title in the certificates and were ready to pay the rental profits, and ultimately the principal amount, to whoever was determined to be the true owner by the court---Whether interpleader suit was maintainable in terms of proviso to S. 88, CPC----For an interpleader suit to be competent, firstly, there must be rival claimants; secondly, the same debt, sum of money or other property, must be claimed by two or more claimants, and thirdly, the person from whom such debt, sum of money etc. was being claimed must claim no interest in the same---Statutory authority and respondent-company were faced with several rival claimants---Disputed sukuk certificates which were claimed by the corporation and banks, represented the same debt, sum of money or other property---Statutory authority and respondent-company did not claim an interest in the disputed sukuk certificates, and had deposited the rental ijara payments along with the encashment value of the disputed sukuk certificates with the court---Three conditions…