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Financial Institution (Recovery of Finance) Ordinance, 2001 (XLVI of 2001)- ----Ss. 17 & 19(2)--Civil Procedure Code, (V of 1908), O.XXI, R. 66--Bank filed suit for recovery--Suit was decreed against respondents--Suit was converted into execution u/S. 17 of the Ordinance--Hypothecated goods may be auctioned for satisfaction decree--Validity--Held: It has been left to the discretion of Banking Court to execute a decree through any manner or mode prescribed under C.P.C. or any provision of law or any manner deem fit by it--A debtor is in no way, in a position to suggest a decree holder to execute the decree in a particular manner. Order Mian Hamid Farooq, J.--Appellant/judgment Debtor No. 4, through the present appeal, under Section 22 of Financial Institutions (Recovery of Finances) Ordinance, 2001, has called in question order dated 22.5.2006, whereby the learned Judge Banking Court declined the request of the appellant to sell hypothecated goods for satisfaction of the decree. 2. Respondent bank/Respondent No. 1 filed the suit for recovery of Rs. 10,08,380/-, against Respondents Nos. 2 to 4, wherein the appellant was impleaded as Defendant No. 4 in the capacity of mortgagor. The suit was decreed against Respondents Nos. 3 and 4, vide judgment and decree dated 7.2.2005, while a separate decree for an amount of Rs.10,08,380/- was passed against the appellant, on 7.12.2005, alongwith the costs of suit and costs of funds. Pursuant to the above, the suit was converted into execution petition, as provided under Section 17 of Ordinance XLVI of 2001. In response to notices under Order XXI Rule 66 CPC, issued by the learned Executing Court, the appellant filed the objection petition, under Section 19(7) of the Ordinance, with the prayer that hypothecated goods amounting to Rs. 3 Million may be auctioned for satisfaction of the decree, as the said goods were primary security. The learned Judge Banking Court, after finding that it is option of the decree holder to seek satisfaction of the decree through sale of mortgaged property or hypothecated goods or both simultaneously, dismissed appellant's objection petition, vide impugned order dated 22.5.2006, hence the…

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