Law:

Section:

(a) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------Ss. 9, 15 & 19---Civil Procedure Code (V of 1908), O.XXI, Rr.84, 85, 89, 90, 91 & 92---Confirmation of sale---Procedure---O.XXI, Rr.85, 89, 90, 91 & 92, C.P.C.---Applicability---Auction sale of mortgaged property---Sate was conducted in execution of the decree with the intervention of the Banking Court and Banking Court opted to follow the procedure laid down in C.P.C. for such purpose and preliminary process was followed and consequently the sale was conducted---Objections to sale were filed and auction purchaser also filed application for confirmation of sale and delivery of possession---Sale having been completed, subject to the deposits to be made in terms of Rr.84 and 85 of O.XXI, C.P.C., Provision of R.92 of O.XXI, C.P.C. would come into play which laid down that where no, application was made under Rr.89, 90 & 91 of O.XXI, C.P.C. or where such application was made and disallowed, the Court shall make an order confirming the sale and thereupon the sale would become absolute---Once a sale had been completed then, unless and until same was set aside in terms of Rr.89, 90 or 91 read with R.92(2) of O.XXI, C.P.C., the executing Court was bound to pass an order for confirmation of the sale whereupon it was to become absolute---Executing Court, in the present case, while dismissing the execution application and other application for non-prosecution, was oblivious of the said mandatory provision of law, and instead of passing proper orders under O.XXI, R.92, C.P.C., proceeded to dismiss all the applications for non-prosecution---Apart from such glaring illegality, the auction purchaser filed an application for confirmation of sale and delivery of possession and Banking Court, on the date fixed for reply and arguments proceeded to dismiss the execution application as well as the objections for non-prosecution---Such order of the Banking Court, from whatever angle seen, was wholly without jurisdiction---Second application was to be treated to be in continuation of the process already commenced in the matter of execution of the decree passed in favour of the…

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