Law:

Section:

(a) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------Ss.22(6), 15(11) & 19(7)(c)---Appeal---Scope---Sale of mortgaged property---Execution of decree---Provision of S.22(6) Financial Institutions (Recovery of Finances) Ordinance, 2001 restricts the right of appeal but is ex facie not- applicable to orders passed under S.15(11) or 19(7) of the Ordinance---Section 15(11) explicitly refers to disputes relating to sale of mortgaged properties while S.19(7)(c) stipulates that the Banking Court, may, in its discretion, proceed with the sale of mortgaged property if in its opinion the interest of justice so required---Such an order being a final order would be appealable. (b) Review--- ----Scope---Power of review, if available, is not dependant upon the absence of right to appeal. (c) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)----- ----S.27---Civil Procedure Code (V of 1908), O. XXI, R.90 & S.12(2)---Banking Court could set aside a sale under O.XXI, R.90, C.P.C. notwithstanding the bar of S.27, Financial Institutions (Recovery of Finances) Ordinance, 2001--¬Principles. Baghpotee Services (Pvt Ltd v. Allied Bank Ltd 2001 CLC 1363 ref. (d) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----Ss.27, 15 & 19---Civil Procedure Code (V of 1908), O.XXI, R.90 & O.XLVII---Execution of decree for sale of mortgaged property---Review application---Provision of O.XXI, R.90, C.P.C. provides that an application can only be entertained when the applicant deposits such amount as may be directed by the Court---By moving the Court under O.XLVII, C.P.C. the applicant in the present case, successfully avoided such order of deposit being made and-neither the application nor the impugned order nor the memo of appeal itself showed that at any stage such deposit was volunteered---Fact that a wrong provision of law was invoked due to bona fide error was doubtful, Court therefore was .justified in treating the application as one of review simpliciter under O.XLVII, C.P.C.---Mere reference to a wrong provision of law was inconsequential and the Court was always expected to consider the substance…

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