Law: Constitution of Pakistan, 1973

Section: 212(3)

Law: Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)

Section: 19(7)

Law: Civil Procedure Code (V of 1908)

Section: S.151,O.XXI,XXXIV,R.5,89,90

Constitution of Pakistan, 1973-- ----Art. 212(3)--Civil Procedure Code, 1908, O. XXI, R. 90--Suit for recovery--Decreed--Execution Application--Auction of mortgaged property--Conducting of auction proceedings--Settlement debtors and decree holder bank outside Court--Availing of settlement--Application for withdrawal of execution proceedings--Allowed--Rights of auction purchaser--Challenge to--Settlement between debtors and decree holder bank was recognized in O. XXI R. 90 Order--It is an admitted fact that appellant has never impugned O. XXI R. 90 Order--It is observed that Impugned Order followed O. XXI R. 90 Order and gave effect to settlement that was already provisioned for in preceding order--It is relevant to observe at this juncture that failure of appellant to assail O. XXI R. 90 Order casts a prejudicial shadow upon present appeal--With regard to issue of vested rights, it is trite law that rights of an auction purchaser only crystalize upon fall of hammer--Appeal was dismissed. 2019 SCMR 321, THIS JUDGMENT DELIVERED BY: AGHA FAISAL, J.- Present appeal has been filed by an auction participant against the order dated 21.04.2018 ("Impugned Order"), passed in Execution 15 of 2016 ("Execution"), contents whereof are reproduced herein below: "Learned advocate for the decree holder has filed statement accompanied with the bank letter No. SBL/SAMG(S)/SAK/ 2018/040 dated 9th April, 2018 stating as under:-- "It is most respectfully and most humbly submitted on behalf of the Decree holder, that since the parties have settled their dispute out of Court, therefore the instant Execution Application is being withdrawn, and the same may be dismissed as being 'not pressed' by this Honourable Court". 2. The brief facts of the case are that the auction / sale was conducted on 16-05-2017 against the property under mortgage bearing Plot No.285-A, 286-A, 287-A and 339-A (Each Plot 140 Square Yards) Hawkesbay truck stand Karachi, and three persons participated in the auction proceedings among them one Muhammad Farooq Son of Muhammad Zameer offered the highest bid of Rs.157,00,000.00. He has paid 25% of bid amount of Rs.4,000,000.00 through pay order Nos.1431838, 00000298,…

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