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

Section: 18

(a) Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997)---S.18(6)---Execution of decree---Investigation of objections--Jurisdiction of Banking Court---Objector claimed to be owner in possession of property mortgaged in favour of bank---Plea raised by the objector was that the registered sale-deed deposited by the borrower, was a forged document---Executing Court dismissed the objection petition without investigation of objection--­Validity---Executing Court before dismissing the objection petition should have investigated the claims and objections against the attachment of the property, by providing sufficient opportunities to the parties for establishing their respective claims, through production of evidence---Order passed by Executing Court was neither in conformity with the record of the case nor in consonance with the law on the subject---Such order passed by Executing Court was set aside and case was remanded to Executing Court for decision afresh on objection petition---Appeal was allowed accordingly. Mst. Surayya Begum v. Muslim Commercial Bank Ltd. and 4 others PLD 1990 Lah. 4 ref. (b) Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997)---- ----S.18(6)---Civil Procedure Code (V of 1908), O.XXI, R.58--­Attachment of property---Objections, investigation of---Recording of evidence---Jurisdiction of Executing Court---Scope---Executing Court is not under obligation, in each and every case, to mechanically record evidence of objector and to decide objection petition after hearing evidence---Executing Court has to see in individual cases as to whether particular case requires recording of evidence or/and that the objection petition has been filed frivolously, contumaciously and to delay proceedings. JUDGMENT MIAN HAMID FAROOQ, J.--The appellant/objector through the filing of the present appeal, has assailed order dated 13-11-2001, whereby the learned Banking Court dismissed appellant's objection petition. 2. Briefly stated the facts leading to the filing of the present appeal are that the suit for recovery of Rs.7,43,180, filed by the respondent-Bank, against respondents Nos.2 and 3, was…

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