| Citation(s) |
|---|
| 2002 SLG 2068 2002 SLD 2068 2002 CLD 622 |
Lahore High Court
E.F.A. No.558 of 2001, heard on 23rd January, 2002.
JAWWAD S. KHAWAJA AND ABDUL SHAKOOR PARACHA, JJ
Ch. Farooq Mahmood Khokhar for Appellant No. 1. Sultan Mahmood for
Respondent No. 1. Khalid Saleem and Adil Aqil Mirza for the Auction Purchasers.
E.F.A. No.558 of 2001, heard on 23rd January, 2002.
JAWWAD S. KHAWAJA AND ABDUL SHAKOOR PARACHA, JJ
Ch. Farooq Mahmood Khokhar for Appellant No. 1. Sultan Mahmood for
Respondent No. 1. Khalid Saleem and Adil Aqil Mirza for the Auction Purchasers.
Messrs RADIEUX (PRIVATE) LIMITED through Chief Executive and 6 others
VS
INDUSTRIAL DEVELOPMENT BANK OF PAKISTAN and another
Law:
Section:
Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997)-----Ss. 18 & 21---Civil Procedure Code (V of 1908), O. X36, Rr.66, 67 & 90---Execution of decree---Appellants filed objection petition under O. Off, Rr.66,67 & 90 for setting aside the auction of property---Executing Court directed appellants to deposit 2096 of auction price within one month-- Appellants failed to comply with such order even within the extended time, thus, objection petition was dismissed---Validity---Order dismissing objection petition was not open to exception in such circumstances---Appeal was dismissed being without merits. JUDGMENT JAWWAD S. KHAWAJA, J.---This appeal impugns the order, dated 30-6-2001 passed by the learned Banking Court No.II, Lahore. The facts of this case are very simple. The respondent-Bank obtained a decree against the appellants, dated 14-11-2000 from Banking Court No.II, Lahore. In execution of the said decree the property, which is subjectmatter of the present appeal, was put to auction on…
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