Law:

Section:

(a) Civil Procedure Code (V of 1908)--- ----O. XXI, Rr. 84, 85 & 86---Sale by auction---Non-deposit of balance amount---Provisions of O. XXI, Rr. 84, 85 & 86, C.P.C. are mandatory in nature and violation of the same particularly non-payment of 75% of balance amount within 15 days is violation of O.XXI, R. 85, C.P.C. which renders the same nullity and Executing court is bound to resale of property in terms of O. XXI, R. 86, C.P.C. Mst. Nadia Malik v. Messrs Makki Chemical Industries Pvt. Ltd. through Chief Executive and others 2011 CLD 1517 rel. (b) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 19 & 22---Civil Procedure Code (V of 1908), O. XXI, R. 85---Execution of decree---Sale, confirmation of---Objections---Judgment debtor sought setting aside of objection on grounds that bid amounts were not deposited in accordance with law---Executing court dismissed objections on grounds that same were not filed under proper provisions of law---Validity---Executing court was duty bound to decide objections of debtor one way or the other on merits through a speaking order---By not doing so a grave illegality was committed by executing court---Order passed by executing court, on the face of it, was erroneous and non-speaking order and was liable to be set aside---Order passed by executing court granting auction purchasers additional time of three days for deposit of remaining 75% amount of their bids and then confirming auction in favour of auction purchasers and issuance of sale certificates were nullity---High Court directed to forfeit 25% of amount deposited by auction purchasers and set aside orders passed by executing court---High Court remanded matter to executing court to resell/re-auction properties in accordance with law---Appeal was allowed in circumstances. Afzal Maqsood Butt v. Banking Court No 2, Lahore and 8 others PLD 2005 SC 470; Jhanq Textile Industries (Pvt.) Limited through Chief Executive and 6 others v. Pakistan Industrial Credit and Investment Corporation Ltd. and 3 others 2013 CLD 387; Mansoor Khalil v. Muhammad Moizuddin and another 2015 CLD 1535 and National Bank of Pakistan v. Messrs Nasir Industries,…

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