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

Section: 19,22

Law: Civil Procedure Code (V of 1908)

Section: 99

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 19 22---Civil Procedure Code (V of 1908), O. XXI, R. 99---Suit for recovery of finance decreed---Execution proceedings---Objection---Appellant intervened execution proceedings on the ground that auction purchaser intended to dispossess him of his land purchased by him through registered sale deed during execution proceedings---Validity---Judgment and decree passed by Court were binding upon parties to proceedings---Person who was not a party to proceedings was not bound by such decree or nor it could be detrimental to their rights and interest in the property---Land mortgaged in favour of Bank was fully described in relevant documents of Bank and also in the plaint--- Such description was incorporated in the notice published for auction of property, in report of the court auctioneer as well as in sale certificate issued by Banking Court---Banking Court in execution of decree directed that possession of property be handed over to auction purchaser---High Court declined to interfere in execution proceedings--- Appeal was dismissed accordingly. Mst. Amina Begum v. Chairman Karachi Development Authority and 5 others 1993 CLC 1307 rel. JUDGMENT RASAAL HASAN SYED, J.---This appeal has been filed under section 22 of the Financial Institution (Recovery of Finances) Ordinance, 2001 (the Ordinance) against order dated 17.11.2015 of the learned Judge Banking Court-II, Gujranwala Camp at Sialkot whereby the objection petition of appellant was dismissed. 2. Respondent No.1 instituted a suit for recovery of Rs.8,43,619/- inclusive of mark-up along with liquidated damages against respondent No. 2 Muhammad Iqbal (now deceased) and respondent No.3 which was decreed on 11.5.1994. Land measuring 14 kanals and 16 marlas in khewat Nos.98, 99 and 105, khatooni Nos.506 to 508 situated in Village Godhpur, Tehsil and District Sialkot belonging to respondent No.2, which had been mortgaged with the respondent bank to secure the payment of the finance facility subject-matter of the recovery suit, was put to auction in the proceedings for execution of the decree. In result the mortgaged property was purchased…

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