Law: General Clauses Act, 1897

Section: 24-A

Keywords: Result: Petition dismissed ORDER C.M. No. 390-B of 2015 ' Through this application judgment Debtor No. 1 company has challenged the proclamation of sale (filed in Court on 20.04.2015 by the Court auctioneers) and in particular the forced sale value determined therein which is based on the evaluation report of Harvester Services (Pvt.) Limited. 2. Amongst others, it is asserted that the value of the property sought to be auctioned is much more than what has been assessed by the evaluator; that the evaluator has not correctly mentioned the covered area of the building and has also not mentioned the boundary wall; that judgment Debtor No. 1 company has got the mortgaged property evaluated from SAS International Corporation which has assessed the forced sale value thereof to be Rs. 280.818 Million; that the chief executive of judgment Debtor No. 1 company died prior to the passing of the decree but this fact was not brought to the knowledge of this Court by the decree holder. 3. The decree holder bank has filed its written reply to this application contesting all the allegations. It is stated that the report prepared by SAS International Corporation does not consider certain vital facts such as the demolition of the buildings inside the boundary wall and that certain land the ownership whereof is claimed by judgment Debtor No. 1 company falls outside the boundary wall. It is further stated that the forced sale value has correctly been determined by Harvester Services (Pvt.) Limited. Regarding the death of the chief executive of the judgment debtor company, it is stated that predecreetal matter cannot be raised in execution proceedings. 4. The respective contentions of the counsels have been heard and the record perused with their able assistance. 5. In this case, the Court auctioneers were appointed vide order dated 12.02.2015 and they were directed to get the mortgaged property evaluated from Harvester Services (Pvt.) Limited and to place the report thereof on the record as also the proposed proclamation of sale. The Court auctioneers placed the report of the evaluator and the proclamation of sale on the record on 20.04.2015 where-after the present…