Law: Civil Procedure Code (V of 1908)

Section: O.XXI,r.58,S.12(2)

Law: Civil Procedure Code (V of 1908)

Section: O.XXI,r.58,S.12(2)

Law: Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)

Section: 19(7)

(a) Karachi Development Authority Order (5 of 1957)-------Art. 40---Karachi Building and Town Planning Regulations, 1979, Preamble---Land sanctioned by authority for amenity of general public---Effect---Such land could not be utilized for any other purpose nor same could be auctioned to any one---Principles. (b) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----S. 19---Execution of decree---Auction of property---Property mortgaged with bank not owned by borrower, could not be sold. Khawaja Shamsul Islam for Appellants. Abbas Ali, Addl. A.-G.; Sindh. Muhammad Mujahid for Respondent No.1. Mrs. Sofia Saeed Shah for Respondent No.7. ORDER MRS. QAISER IQBAL, J.--- The appellants have impugned the order, dated 26-4-2007 passed by learned Banking Court-II, Karachi, dismissing the application under section 12(2) read with Order XXI, rule 58, C.P.C. read with section 19(7) of the Financial Institutions (Recovery of Finances) Ordinance, 2001, filed by the appellant in Execution No.50 of 2001 arising out of Suit No.214 of 2007. Succinctly, the facts to the appeal are that the appellants are lawful owners of industrial Plot Nos.ID-203 and ID-175, Korangi Industrial Area, Karachi. The appellant No.1 is running a factory over the Plot No.ID-203 while the adjoining plot is vacant in front of which plot there is a 200 feet wide road commonly known as (10000 Road) available in the Master Plan and Layout Plan approved by the former K.D.A. now City District Government, Karachi. The dispute herein pertains to the 200 feet wide road which provide ingress and outgress to the factories of the appellants as well as to the other plots. The appellants have invested a huge amount in raising construction of the garment factory. It is alleged that the respondents Nos.2 to 6 in connivance with the officials of respondent No.1 managed to obtain a huge amount of loan after depositing forged and fabricated title documents showing ownership of the 200 feet wide road in collaboration with the bank officials, in violation of the State Bank of Pakistan prudential regulation procedure and instructions as well as in violation of Transfer of Property Act read with sections…

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