Law:

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Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001) S.19(7) Civil Procedure Code (V of 1908), O.XXI, Rr.58 & 62 Execution of decree Sale of property under auction Appellant in objection petition had claimed ownership of the property based on a gift made to him orally by the debtor and later executed through a registered memorandum of gift Dismissal of objection petition by Banking Court on the ground that the appellant had failed to place on record the gift document in his favour and also due to the absence of his name in the Revenue Record where some other person's name in the Jamabandi as well as the mutation was mentioned Subsequent placement of memorandum of gift on record by the appellant in the High Court Effect High Court dismissed the appeal of the appellant on the grounds that it was necessary to place on record the memorandum of gift earlier before the executing Court and also because the document did not pertain to the same property as the one under auction Simply mentioning of the same Khasra number without the specific number of the property was of no avail, and according to the Revenue Record the gift of the property was not in favour of the appellant but of someon6 else. ORDER The respondent Bank filed a suit for recovery against Muhammad Aslam in which a decree to the tune of Rs.2,60,71,267.67 was passed. In execution of the decree, the respondent Bank got attached the shop of the judgment debtor bearing No. 164, Block No.8, Sargodha and was ordered to be put to auction, when the petitioner, who is son of the judgmentdebtor Muhammad Aslam, applied to the Court that the shop, in fact, had been gifted to him by his father orally and subsequently a memorandum of gift was executed and registered, the effect of which has also been given in the Revenue Record. This objection petition has been dismissed through the impugned order dated 2 11 2001. Hence, this appeal. 2. The…

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