Law: Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997

Section: 18

(a) Constitution of Pakistan (1973)---Art. 199---Constitutional jurisdiction of High Court--­Scope---High Court had ample powers to look into events--­Occurring subsequently to filing of Constitutional petition. Nasir Jamal v. Zubeida Begum 1990 CLC 1069 and Mst. Amina Begum and others v. Mehar Ghulam Dastgir PLD 1978 SC 220 rel. (b) Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997)--S.18(6)---Constitution of Pakistan (1973), Art. 199--­Constitutional petition---Execution of decree---Auction of mortgaged property---Banking Court accepted respondent's bid of Rs.2,20,000 on petitioner's failure to deposit Rs.2,50,000---Contention of petitioner was that land belonged to his forefather before its sale to -debtor; thus he was interested in purchasing his ancestral land and ready to deposit Rs.3,00,000---Validity---Petitioner in order to show his bona fides to purchase land had deposited such amount with the Deputy Registrar of the Court---High Court set aside impugned order with directions to Banking Court to re-auction land by fixing base consideration as Rs.3,00,000, in case no bidder was ready to purchase land for higher amount, then petitioner would be entitled to purchase land for Rs.3,00,000. ORDER Brief facts out of which present writ petition arises are that respondent No.3 filed a suit for recovery of Rs.24,13,000 against respondent No.4 before the Banking Court, Sialkot which was decreed vide judgment and decree dated 29-4-1999. Respondent No.4 did not challenge the said decree before any higher forum. The respondent-Bank filed execution petition before the Banking Court. The learned Banking Court appointed Mian Javed Iqbal, Advocate, as Court Auctioneer, who fixed the date as 2-8-1999 to sell the property in question of respondent No.4 measuring 16 Kanals. The auction was not held on the pointation of the petitioner that the land mentioned in auction notice is measuring 16 Kanals and 9 Marlas, whereas the land in question in the ownership of respondent No.4 is 16 Kanals. The Court Auctioneer fixed the next date for auction as 28-8-1999. The petitioner and respondent No.2 participated in the auction proceedings held by…

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