Law:

Section:

Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997) Ss.18(3) & 3 Constitution of Pakistan (1973), Art.199 ¬Constitutional petition Execution of decree Mortgaged property Rights and obligations of tenant Banking Court or an auction purchaser can be put in possession of the mortgaged property only when debtor or a person acting on his behalf cannot do so Provisions of Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997 do not contain a clear and specific provision regarding rights and obligations of a tenant of a mortgaged property Tenant of such property enjoys independent legal rights and cannot be treated as person acting on behalf of landlord/ debtor Provision of S.3, Banking Companies/Recovery of Loans, Advances, Credits and Finances) Act, 1997 stipulates that its provision shall be in addition to and, save to the extent expressly provided in the Act, not in derogation of any law for the time being in force In absence of any explicit provision the legislative intent, cannot be so construed as to deprive tenants of their rights to occupy property guaranteed under law. JUDGMENT SABIHUDDIN AHMED, J. Through this petition under Article 199 of the Constitution the petitioner has called in question the order of the respondent No. 1 dated 29 4 1999 in Execution Application No.74 of 1994, directing sealing of a mortgage property where the petitioner was allegedly residing as a tenant as well as the order dated 15 8 2000, rejecting his objection to the execution application. 2. The relevant facts appear to be that the respondent No.2 had filed a suit for recovery of money and foreclosure of mortgaged property belonging to the respondents Nos.4 sand 5 against whose security such money was advanced to respondent No.3. Upon the suit having been decreed the respondent No.2 moved an application for sealing of the property under section 18 of the Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997, (The 1997 Act), whereupon sealing of the property including the part in possession of the petitioner as a tenant was ordered. The petitioners objection to the execution application…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492