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

Section: 9 & 22

Law: Civil Procedure Code (V of 1908)

Section: O.I, R.10,47

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)------Ss. 9 & 22---Civil Procedure Code (V of 1908), O.I, R.10---Suit for recovery of finance---Impleading of party--Appellant moved application under O.I, R.10, C.P.C. to be impleaded as a party to the suit and had alleged that he was the real owner in possession of land in respect of which respondent had created a mortgage; and that respondent by fraud and forgery had fabricated and manufactured sale-deed of land alleged to have been executed in his favour by appellant--Application of appellant for impleading him as party, was dismissed by Banking Court and constitutional petition filed by appellant against dismissal order was pending adjudication---Banking Court having passed decree in favour of Bank and against respondents, appellant in said changed circumstances filed appeal against and decree of Banking Court and also challenged order of Banking Court, whereby his application for impleading him as party was dismissed---Bank had raised a preliminary objection about the maintainability of said appeal contending that appellant as an aggrieved party had also availed appropriate remedy of filing objections under S.47, C.P.C. before Banking Court/Executing Court and said objections had been entertained by the Court, which were pending in which stay order had also been granted in favour of appellant, restraining sale of property in auction in execution of decree in favour of Bank---Contention of respondent was that both remedies could not be availed by appellant--Appellant, in circumstances did not press his appeal, however, he had stated that during pendency of his suit, auction of disputed property be stayed---On objections of appellant, Banking/Executing Court had taken cognizance of the matter and had granted stay order to appellant---If any order adverse to interest of appellant was passed, such order could be challenged by him before appropriate forum in proper proceedings---Stay order, however could not be granted to appellant in the present appeal which was dismissed as withdrawn by the appellant.ORDER The respondent No.1/bank brought a suit for the recovery of "finance",…