Law:

Section:

Civil Procedure Code (V of 1908) S. 60 & O.XXI, R.58 Islamabad Stock Exchange Articles of Association, Arts. 19 & 20(o) Attachment of membership of stock exchange in execution of decree Rejection of objection petition without recording of evidence Grievance of the petitioner was that the Executing Court could not attach its membership of stock exchange in execution of decree passed against it Plea raised by the petitioner was that the properties enumerated in S.60, C.P.C, did not include membership of stock exchange and the Executing Court had wrongly dismissed the objection petition without recording of evidence Validity. Court of competent jurisdiction could attach membership as a property in execution of a decree under Art. 20(o) of Islamabad Stock Exchange Articles of Association No need arose to record evidence as the dispute related to membership of stock exchange and in that regard the Memorandum and Articles of Association was duly taken into consideration while, deciding the objections by the Executing Court as well as by the High Court No legal infirmity in the order of Executing Court was found, and the same did not warrant interference Leave to appeal was refused. JUDGMENT MIAN MUHAMMAD AJMAL, J. This petition under Article 185(3) of the Constitution of Islamic Republic of Pakistan, 1973, calls in question the validity of the judgment of the Lahore High Court, Lahore, dated 19 1 2001, whereby Writ Petition No.14502 of 2000 of the petitioner, was dismissed. 2. Succinctly stated facts of the case are that suit of respondent No.1 for recovery of Rs.49,78,668 was decreed ex parte against respondent No.2 on 29 6 1999, whereafter the decree holder initiated execution proceedings against the judgment debtor, wherein warrant of attachment of the membership of Islamabad Stock Exchange of the judgment debtor was issued. The petitioner challenged the order of the Chairman, Modaraba Tribunal, dated 28 6 2000, whereby its objection to the attachment of the membership of the judgment debtor of Islamabad Stock Exchange, was overruled. Feeling aggrieved, the petitioner filed F.A.O. No.201 of 2000 before the Lahore High Court, which was found to be not…

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