Law: Civil Procedure Code (V of 1908)

Section: O.XXI,R.90,92

(a) Civil Procedure Code (V of 1908)--- ----O. XXI, R. 90--- Auction proceedings---Objection petition---Maintainability---Requirement to deposit 20% of the highest bid---Statutory deposit of 20% by the debtor was mandatory---Without such a deposit the objection application filed by the debtor under O. XXI, R. 90, C.P.C. was not maintainable. Nice 'N' Easy Fashion (Pvt.) Ltd. v. Allied Bank of Pakistan 2014 SCMR 1662 and Zakaria Ghani v. Muhammad Ikhlaq Memon PLD 2016 SC 229 ref. (b) Civil Procedure Code (V of 1908)--- ----O. XXI, R. 90---Auction proceedings---Objection petition regarding reserve price of property---Objection regarding reserve price could not be taken by the debtor after the auction had taken place---Duty to raise such an objection at the initial stages was cast on the debtor. (c) Civil Procedure Code (V of 1908)--- ----O. XXI, R. 92---Auction proceedings---Sale confirmed in favour of auction purchaser and sale certificate issued---With the holding (and confirmation) of sale, third party interests intervened which could not be disregarded---Valid sale in execution would not become invalid to the prejudice of the auction purchaser because the decree had (subsequently) been wiped out or reversed---Language of O. XXI, R. 92, C.P.C. stipulated that the sale would become absolute once the order for its confirmation had been made by the Executing Court. Hudaybia Textile Mills Ltd. and others v. Allied Bank of Pakistan Ltd. and others PLD 1987 SC 512 ref. THIS ORDER PASSED BY: IJAZ UL AHSAN, J.--- Leave to appeal is sought against a judgment of the Lahore High Court, Lahore dated 17.04.2017, whereby F.A.O. No. 317 of 2004 filed by the petitioners was dismissed. 2. Briefly stated the facts necessary for decision of this lis are that Respondent No.1-Muslim Commercial Bank Limited filed a suit against the petitioners seeking recovery of Rs.490,092.51. Such suit was decreed on 31.03.2003. The petitioners filed an appeal bearing R.F.A. No.213 of 2003 challenging the judgment and decree before the High Court. In the meantime, the decree holder Bank carried out execution proceedings in which the property mortgaged by the petitioners was ordered to be…

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