Law:

Section:

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)-------Ss.9, 19 & 22---Civil Procedure Code (V of 1908), S.12(2)---Suit for recovery of loan---Execution of decree---Challenging decree on allegation of fraud and misrepresentation---Suit having been decreed, property mortgaged by the borrower was auctioned in execution of decree, which was successfully purchased by respondent and such sale was confirmed by the Executing Court and possession of the property was delivered to the respondent---Application filed by the appellant under S.12(2), C.P.C., challenging the decree had been dismissed---Validity---Appellant in his said application had merely mentioned that decree was based on fraud and misrepresentation---Necessary ingredients of fraud, if any, had not been pleaded nor the elements of misrepresentation had been mentioned in the application under S.12(2), C.P.C.---If fraud was alleged, its necessary ingredients must be pleaded, so as to subsequently prove the same---General and bald allegations of fraud and misrepresentation, could not form basis to upset a decree, otherwise validly passed by a Court of competent jurisdiction---No case for interference in the impugned order having been made out, appeal was dismissed. JUDGMENT MUHAMMAD KHALID ALVI, J.---Despite service respondent No.2 has not entered appearance. He is, therefore, proceeded against ex parte. 2. Brief facts of the case are that against an equitable mortgage of the property in dispute originally owned by respondent No.2 he obtained certain loan from respondent No.1 In order to secure the amount respondent No.1 filed a suit for recovery against respondent No.2 which was decreed vide judgment and decree dated 20-2-1995. Its execution was filed. Initially it was dismissed whereupon a second execution was filed and ultimately property in dispute was auctioned on 29-4-2006 which was successfully purchased by respondent No.3. This sale was also confirmed by the learned executing Court and possession of-the property in dispute was delivered to respondent No.3 on 28-6-2002. Thereafter appellant filed an application under section 12 of Companies Act, 1997 read with section 12(2)…

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