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

Section: 19(1),(7)

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

Section: 19(1),(7)

Law: Civil Procedure Code (V of 1908)

Section: O.XXI

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------S.19(1) & (7)---Civil Procedure code (V of 1908), O.XXI---Objection application---Maintainability---Separate execution proceedings-Applicant sought exclusion of property in question from schedule of decree on the ground that the property was owned by him and defendant was only tenant in the property against whom eviction order had already been passed by Rent Controller---Validity---By application of O.XXI, C.P.C. in Financial Institutions (Recovery of Finances) Ordinance, 2001, for the purpose of execution of decree, Executing Court was empowered to determine all claims of respective parties, in case, if the party filing objection was not party to original proceedings of suit or the decree was obtained by committing misrepresentation and fraud----Powers of Executing Court, therefore, remained unfettered and vast to determine respective claims of aggrieved party at the time of execution of decree---In the event of passing decree by Banking Court, no separate execution application was required to be filed under S.19(1) of Financial Institutions (Recovery of Finances) Ordinance, 2001, and suit itself might be treated as execution application---Decree-holder had filed separate execution application which was pending adjudication, therefore, if objection application would be dealt with in absence of original parties to suit, the same would prejudice the case of either of the parties---As separate execution proceedings were pending adjudication, therefore, applicant had all the rights and opportunities to avail before Executing Court---High Court declined to pass any order in objection application filed by applicant---Application was dismissed in circumstances. ORDER ARSHAD NOOR KHAN, J.---By this application under section 19(7) of Financial Institutions (Recovery of Finances) Ordinance, 2001 (hereinafter referred to as 'Ordinance, 2001), the applicant has prayed for exclusion of property No.DP-24, admeasuring 1,000 square yards, situated in Small Industries Zone, Section 12-D, Karachi, from the schedule of the decree passed by this court. The facts leading rise to the present…

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