Law: Civil Procedure Code (V of 1908)

Section: O.XXI,r.89,O.XXIII,r.1,S.151

Law: Civil Procedure Code (V of 1908)

Section: O.XXI,r.89,O.XXIII,r.1,S.151

Law: Limitation Act, 1908

Section: 166

Civil Procedure Code (V of 1908)-------S. 151 & O.XXI, R.89---Limitation Act (IX of 1908), Art.166---Application for setting aside of sale of property confirmed in favour of auction purchaser---Filing of such application after 23 months of sale and 21 months of confirmation of sale---Effect---Such application could be filed within 30 days from date of sale---Such sale could not be got cancelled/set aside at instance of decree-holder or -debtor, who might be willing to settle his matter in or out of Court on certain terms---Such application was dismissed for being time-barred. United Bank Limited v. Heryana Asbestos Cement Industries' (Ltd.) and 20 others 2006 CLC 1272; United Bank Limited v. Messrs A.Z. Hashmi (Pvt.) Limited and 8 others 2000 CLC 1438; Muhammad Ikhlaq Memon v. Zakaria Ghani and 6 others PLD 2005 SC 819 and Messrs New Rahat Engineering Works through its Proprietor and 4 others v. National Bank of Pakistan 2003 CLD 382 ref. Hudaybia Textile Mills and others v. Allied Bank of Pakistan Ltd. and others PLD 1987 SC 512 fol. Asim Mansoor Khan for Appellant. Aamir Malik for Respondent No.1. Irfan A. Memon for Respondent No.2. ORDER This appeal under section 22 of the Financial Institutions (Recovery of Finances) Ordinance, 2001 is directed against the order dated 31-8-2007 passed by the banking Court No.1 at Karachi in Execution Application No.5 of 2002, whereby an application moved by the appellants under Order XXI, rule 89, and section 151, C.P.C. was dismissed, so also another application under Order XXIII, rule 1, and section 151, C.P.C. moved by the respondent No.1. It will not be out of place to mention here that the respondent No.1 has not challenged such order of the Banking Court and it is only the appellants, who are judgment-debtors in the execution proceedings, who have assailed this order. 2. In a nutshell, relevant facts of the case are that a suit for recovery of Rs.5,158,815 being Suit No.56 of 1993, instituted by the respondent No.1 against the appellants, was decreed by the Banking Court vide its judgment dated 9-7-1995, followed by final decree dated 20-7-2001. 3. On filing of Execution Application No.5 of 2002 by respondent…

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