Law: Civil Procedure Code (V of 1908)

Section: 54

(a) Civil Procedure Code (V of 1908)--O. XXI, Rr. 54 & 58(1) [as amended by Lahore High Court and also substituted by Law Reforms Ordinance (XII of 1972)]---Limitation Act (IX of 1908), Art.11---Objection petition filed after one year from date of first attachment---Maintainability---Intent behind amendment made in O.XXI, R.58(1) by Law Reforms Ordinance, 1972 was to prevent raising of frivolous, fictitious or vexatious objections/claims, but not to shut out genuine and valid claims simply due to expiry of one year from date of order of first attachment---Outer limit of one year would apply only to objector having knowledge of first attachment, but not to others having no such knowledge---Objection/claims in terns of O.XXI, R.58(1), C.P.C. could be taken at any time after attachment and confirmation of subsequent sale---First attachment Must substantially comply with requirements of O.XXI, R.54, C.P.C.---Mere making of attachment order, attachment would not be effective without giving effect to same in prescribed manner---Proviso to O. XXI, R. 58(1), C.P.C. would become applicable in appropriate circumstances once attachment was held to have been properly effected, but not otherwise---Principles. Mulla on the Code of Civil Procedure 13th Edn. 1967, Vol II; Sardhari Lal v. Ambika Prasad (1888) 15 Indian Appeals 123 and Code of Civil Procedure by Aamer Raza A. Khan 10th Edn. 2010 rel. (b) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----S. 19---Civil Procedure Code (V of 1908), O.XXI, R.58---Transfer of Property Act (IV of 1882), S.54---Registration Act (XVI of 1908), Ss.17 & 49---Companies Ordinance (XLVII of 1984), S.196---Limitation Act (IX of 1908), Art.11---Money decree, execution of---Sale of warehouse of debtor situated in Islamabad Capital Territory---Confirmation of sale in favour of auction purchaser by Executing Court---Objection petition by Pakistan International Airlines Corporation (PIA) claiming to be owner of warehouse on basis of handing/taking over certificate issued by -debtor company in pursuance of decision of its Board of Directors and on payment of its outstanding dues to Capital Development Authority…

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