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

Section: 19,22

Law: Civil Procedure Code (V of 1908)

Section: 66,90

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss. 19 22---Civil Procedure Code (V of 1908), O. XXI, Rr. 66 90---Suit for recovery----Execution of decree of Banking Court---Auction of mortgaged property---Setting aside of auction proceedings---Scope---Objection application filed by -debtor against auction of mortgaged property was dismissed---Contention of -debtor, inter alia, was that no notice under O. XXI, R. 66, C.P.C. was served upon him, and that valuation report of subject-property was incorrect---Validity---Record revealed that -debtor was aware of proceedings before Executing Court as he had himself submitted a statement before the same seeking time to deposit decretal amount---Alleged incorrect entries on valuation report could be at best regarded as an irregularity rather than illegality---Judgment-debtor had acted with mala fide intent for ulterior motive of frustrating proceedings before Executing Court and for thwarting satisfaction of and decree, and therefore his application under O. XXI, R. 66, C.P.C. was rightly dismissed by Executing Court---Appeal was dismissed, in circumstances. Muhammad Attique v. Jami Limited and others PLD 2010 SC 993; Javed Iqbal v. National Bank of Pakistan through Manager and others 2017 CLD 833; Asif Ali Khan and another v. Standard Chartered Bank Limited and another 2015 CLD 1813; Messrs NIB Bank Limited v. Messrs Apollo Textile Mills Limited and 2 others 2013 CLD 1398; Khursheed Begum and others v. Inam-ur-Rahman Khan and others PLD 2009 Lah. 552; Messrs Ripple Jewellers (Pvt.) Limited through Chief Executive and another v. First Woman Bank through Officers/General Attorneys/Principal Officers and 6 others 2003 CLD 1318; Muhammad Hassan v. Messrs Muslim Commercial Bank Limited through Branch Manager and 3 others 2003 CLD 1693; Mst. Zainab Bibi v. Allied Bank of Pakistan Limited and others 2003 YLR 3274; Mrs. Shahida Saleem and another v. Habib Credit and Exchange Bank Limited and 4 others 2001 CLC 126; Brig. (Retd.) Mazhar-ul-Haq and another v. Messrs Muslim Commercial Bank Limited, Islamabad and another PLD 1993 Lah. 706; Muhammad Khalil v. Messrs Faisal M. B. Corporation and others…

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