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Constitution of Pakistan (1973)-----Art 185(3)--Civil Procedure Code (V of 1908), O. XXXVII, R.3-­Banking Companies (Recovery of Loans) Ordinance (XIX of 1979), Ss-3, 7 & 12--Suit for recovery of loan by sale of mortgaged property-­Petitioners application for leave to defend suit refused--Dispute about adequacy of value of mortgaged security--Case remanded to High Court for decision afresh in accordance with specific directions--High Court passed orders without giving its finding as directed in remand order without making reference to any evidence and without properly considering documentary evidence produced before it--Leave to appeal granted to examine contentions raised by both parties. A. A. Zari, Advocate Supreme Court with A. Aziz Dastgir, Advocate-on-Record for Petitioner. Naimur Rehman, Advocate Supreme Court with Nizam Ahmad, Advocate-on-Record for Respondent. Date of hearing: 19th December, 1985. ORDER ZAFFAR HUSSAIN MIRZA, J.--Dubai Bank Limited, the respondent in this case has filed a suit No. 67/81 against the petitioner company and two of its Directors, in the Court of Special Judge et Karachi, under the Banking Companies (Recovery of Loans) Ordinance 1979, inter alia, for the recovery of a sum of Rs.1,09,57,899.30, by the sale of the mortgaged property. The petitioner filed an application for leave to defend the suit under Order XXXVII, Rule 3, C.P.C. read with sections 3 and 7 of the Banking Companies (Recovery of Loans) Ordinance 1979 The learned Special Judge refused to grant leave to the petitioner to defend the suit and accordingly decreed the suit for the respondent as prayed, vide judgment, dated 12th November, 1981. In consequence of this judgment a preliminary decree was prepared under Order XXXIV, Rule 4, C.P.C for the sale of the mortgaged property. 2. Being aggrieved by the aforesaid order refusing leaver to defend and judgment passed by the learned Special Judge, the petitioner filed an appeal in the High Court of Sind at Karachi, under section 12 of the Banking Companies (Recovery of Loans) Ordinance, 1979 (first appeal No. 65/81). The first appeal was admitted to regular hearing by a Division Bench of the High Court but by…

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