Law: Punjab Undesirable Cooperative Societies (Dissolution) Act, 1993

Section: 11

Law: Transfer of Property Act, 1882

Section: 52

Punjab Undesirable Cooperative Societies (Dissolution) Act (I of 1993)--- ----S.11---Transfer of Property Act (IV of 1882), S.52---Lis pendens, principle of---Applicability---Specific performance of agreement to sell executed by Cooperative Society in favour of petitioner stood proved upto the Supreme Court---Punjab Cooperative Board for Liquidation, during pendency of proceedings between petitioner and Cooperative Society, sold the property to respondent--- Validity--- Litigation regarding property in question was very much in the knowledge of the Board, when the property was sold through negotiation, therefore, principle of lis pendens was fully applicable---Sale deed executed in favour of respondent by the Board and cancellation of "No Objection Certificate" issued and order passed by the Board in favour of respondent was set aside by the High Court with directions that Punjab Cooperative Board for Liquidation to execute sale deed of property in question in favour of petitioner after receiving remaining consideration amount---Constitutional petition was allowed in circumstances. Muhammad Ashraf Butt and others v. Muhammad Asif Bhatti and others PLD 2011 SC 905; Khadim Hussain v. Abid Hussain and others PLD 2009 SC 419; Mst. Tabassum Shaheen v. Mst. Uzma Rahat and others 2012 SCMR 983 and Bagh Ali v. Mst. Ayesha and others 2013 SCMR 551 ref. THIS JUDGMENT DELIVERED BY: ALI AKBAR QURESHI, J.--- This case has a checkered history spreading over almost thirty years, therefore, it is necessary to state the facts of the case. 2. National Development Leasing Corporation, the predecessor-in-interest of the of Muslim Commercial Bank Limited (MCB), the petitioner herein, executed an agreement to sell dated 18.11.1990 in respect of the property bearing No.5, measuring 03 Kanal 10 Marla situated at Jail Road, Lahore with Agricultural Cooperative Development and Investment Limited (ACDIL), the defunct corporation; the defunct-ACDIL did not perform its part of the agreement whereupon the petitioner instituted a suit for specific performance of the agreement, which was abated on the promulgation of the Punjab Undesirable Cooperative Societies (Dissolution) Act, 1993 and all…

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