Law:

Section:

Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997) Ss. 14, 15 & 18 Civil Procedure Code (V of 1908), O.XXI, Rr.58, 62, 66, 99 & S.151 Constitution of Pakistan (1973), Art.185(3) Execution of decree for recovery of loan amount Objection as to sale of mortgaged property by third person Facility of loan was advanced in the year 1988 and debtor provided all the documents pertaining to the property inclusive of its mutation, non encumbrance certificate from Sub Registrar, approved site plan of the property and many other documents while mortgaging the property Banking Court decreed the suit of Financial Corporation against debtor and decree holder having equipped with the decree filed execution petition and notices thereupon were issued to the debtor under O.XXI, R.66. C.P.C. Nobody having appeared in spite of such notice, order was passed for the auction of the property and auctioneer was accordingly appointed ¬Petitioner claimed that he had purchased the property in question in the year 1989 and moved objection petition under O.XXI, R.99 read with S.151, C.P.C. before the executing Court, and auction was stayed Petitioner only produced photostat copies of the registered sale deeds relied upon by her and original documents or attested copies of the same were not produced Banking Court in the exercise of its powers under O.XXI, R.58, C.P.C. after taking into account all the documents and pleas raised by the parties, dismissed the objection petition which order was maintained by the High Court Validity Claim/objection of the petitioner was rightly dismissed under O.XXI, R.58, C.P.C. as the Banking Judge, after thrashing the entire documents placed on, record, came to an irresistible conclusion that the disputed property, subject matter of the proceedings, was already mortgaged with the Financial Corporation Documents annexed with the objection petition reflected that the petitioner had claimed that she purchased the property in question in the year 1989 while the same was already mortgaged Petitioner had only produced photostat copies of the documents while the decree holder had produced a number of documents to…

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