Law: Civil Procedure Code (V of 1908)

Section: O.XXI,Rr.67,69,72,27,69(2)

Law: Civil Procedure Code (V of 1908)

Section: O.XXI,Rr.67,69,72,27,69(2)

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

Section: 19(2)

(a) Civil Procedure Code (V of 1908),----O. XXI, Rr. 67, 69 & 72---Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001), S.19---Execution of decree---Auction of mortgaged property---Decree-holder's offer to purchase such property at reserved price made after postponement of auction proceeding by court-auctioneer due to non-availability of any bidder---Confirmation of sale in favour of decree-holder by court---Validity---Decree-holder had not obtained permission of court before making such offer---Court-auctioneer was legally bound to require decree-holder before entertaining its offer to obtain permission from court---Court before confirming any sale would decide its validity and after coming to conclusion that sale was valid, only then court might confirm same---Decree-holder had only made an offer to purchase such property and that too without permission of court, thus, there was no sale, which could be confirmed by the court---According to O.XXI, R.69(2), C.P.C., where court or court-auctioneer adjourned sale for a longer period than seven days, then fresh proclamation under R.67 thereof would be required to be made except in case of waiver of right by -debtor---Court, in the present case had not issued notice under O.XXI, R.67, C.P.C. for re-conducting sale---Court had ignored mandatory requirement of law while confirming sale on a single offer of decree-holder and that too against reserved price---Execution proceedings had been commenced under C.P.C. and not under S.19 of Financial Institutions (Recovery of Finances) Ordinance, 2001---High Court set aside impugned order for being illegal. (b) Civil Procedure Code (V of 1908)--- ----O. XXI, R. 72---Property to be sold in execution of decree---Purchase/sale of such property by/to decree-holder without permission of court---Scope---Such purchase/sale would be voidable if not void in absence of consent of -debtor---Principles. Under Order XXI, Rule 72, C.P.C. if decree-holder intends to participate in auction proceedings, then decree-holder has to obtain permission of executing court. The perusal of Rule 72, O.XXI, C.P.C. shows that decree-holder will not be permitted to participate in…

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