Law: Industrial Development Bank of Pakistan Ordinance, 1961

Section: 39

Industrial Development Bank of Pakistan Ordinance (XXXI of 1961)---S. 39---Execution of decree---Sale of mortgaged property---Frustrating execution proceedingss claimed to be bona fide purchasers of suit property and sought permission to deposit decretal amount in installments--- Executing Court dismissed the application---Validitys were strangers to the lis and had no locus standi to file application in question for making deposit of decretal amount in installments---Such proceedings were tainted with mala fide to frustrate execution proceedings pending since 4-4-1991s failed to point out any illegality or material irregularity in the order passed by Executing Court---Revision was dismissed, in circumstances. Industrial Development Bank of Pakistan through Deputy Chief Manager v. Saadi Asmatullah and others 1999 SCMR 2874; Pakistan International Airlines Corporation v. Aziz ur Rehman Chaudhary and another 2016 SCMR 14; Mst. Zaitun Begum and others v. Agha Qasim Ali and others 1990 SCMR 1613; Abdul Hameed through L.Rs. and others v. Shamsuddin and others PLD 2008 SC 140; Citi Bank N.A. through Branch Manager v. Munir Ahmad Gill and 2 others 2006 YLR 2938; Muhammad Yousaf and 2 others v. Muhammad Alam Usmani and others 2007 YLR 2735; Muhammad Yousaf v. Irfan and 4 others 2009 YLR 1688; Riaz Hussain and 2 others v. Mst. Waso and others 2010 YLR 2846; Moulvi Muhammad Ishaq and another v. The P.O.F 1989 SCMR 1052; Pir Khan through this Legal Heirs v. Military Estate Officer, Abbottabad and others PLD 1987 SC 485; Tehsil Municipal Administration and another v. Chaudhry and Co. through Farhat Mehmood Bhalli and others 2005 SCMR 1361; M/S. Irisma International, Karachi and 3 others v. United Bank Limited, Karachi and another 2007 SCMR 1271; Muhammad Hanif Abbasi v. Imran Khan Niazi and others PLD 2018 SC 189; Muhammad Chiragh-ud-Din Bhatti v. The Province of West Pakistan (Now Province of Punjab) through Collector, Bahawalpur and 2 others 1971 SCMR 447; Muhammad Akhtar and others v. Abdul Hadi and others 1981 SCMR 878 and SME Bank Limited through President Islamabad and others v. Izhar ul Haq 2019 SCMR 939 ref. JUDGMENT: CH. MUHAMMAD IQBAL, JUSTICE:---.--- Through…

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