Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------S. 19---Execution of decree---Appellant Bank assailed orders of the Banking Court whereby it allowed the respondent to withdraw 25% of her bid, deposited after she was declared the successful bidder in the sale of the property of the -debtors under S.19 of the Financial Institutions (Recovery of Finances) Ordinance, 2001---Respondent made said application for withdrawal on the ground that the appellant Bank represented to her that it was only the Bank that would confirm the sale alone--- Validity--- Proclamation advertisement published to invite bids for the sale of the property, nowhere mentioned that the sale would be subject to the final order of the Banking Court and that the Court was involved for auctioning the property--- Respondent-auction-purchaser, was therefore, justified in believing that the appellant Bank would confirm the sale---Appellant Bank was unable to show any document or communication which confirmed that the Bank informed the perspective bidders about the order passed by the Banking Court---Respondent-auction-purchaser was therefore, justified in withdrawing her bid---No illegality in the impugned order of the Banking Court having been found, appeal was dismissed. ORDER Through this appeal the appellant has assailed order dated 11-1-2008 passed by Judge Banking Court No.IV, Lahore. 2. The appellant in execution of decree against respondents Nos.1 to 5 invited bids for the sale of property of judgment debtors under section 19 of Financial Institutions (Recovery of Finances) Ordinance 2001 without intervention of court. Respondent No.6 submitted her bid and was declared successful bidder. Respondent No. 6 deposited 25% amount of her bid in terms of proclamation of sale. The auction was not confirmed and respondent No.6 then filed an application for withdrawal of her amount. Learned Banking Court vide impugned order dated 11-1-2008 allowed the petitioner to withdraw her amount. 3. Learned counsel for appellant submits that impugned order is without lawful authority, an earlier application of respondent No.6 for withdrawal of bid money was pending, the second…

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