Law: Civil Procedure Code (V of 1908)

Section: R-89,O.XXI,Rr.89,90

Civil Procedure Code (V of 1908)--O.XXI, Rr. 89 & 90---Sale through auction---Preferential right of -debtor to purchase the mortgaged property---Auction was assailed by one of the -debtors on the ground that he was owner of the mortgaged' property and intended to purchase the-property---Banking Court allowed the objection petition with the direction to the -debtor to deposit the auction price and pay a sum equal to 5% of the purchased price to the auction-purchasers under O.XXI, R.89, C.P.C.---Auction-purchasers contended that the -debtor had not complied with the orders of the Banking Court therefore, objection petition should be dismissed and sale in their favour be confirmed ---Validity--¬If the -debtor had not made the deposit in terms of the orders passed by Banking Court within the period prescribed in the order or had not sought extension in terms of the order, the objection petition would have been dismissed---High Court directed that if the -debtor had not deposited the amount in terms of the order passed by the Banking Court his objection petition would be deemed to be dismissed and the auction-purchasers were entitled to confirmation of the sale. JUDGMENT MIAN SAQIB NISAR, J.---In execution of a decree., passed in favour of respondent-Bank and against the respondent No.1/judgment-debtor by the Banking Court, the property in question was put to auction and had been 'purchased by the appellant on 15-11-2001 for an amount of Rs.2,36,000. Before the sale could be confirmed by the Court, the respondent/judgment-debtor filed objection to the sale under the provisions of Order XXI, rules 58 and, 90 of the Civil Procedure Code. The learned Court accepted the objections, set aside the sale and directed the respondent/judgment-debtor to deposit the auction price as also to pay 5 percent. over and above for compensating the appellant, hence this appeal. 2. Respondent No.2 was finally served through publication in the newspaper "Nawa-i-Waqt" who did not appear and thus has been proceeded against ex parte. Ex parte 'arguments have been heard. 3. According to the impugned order, which reads as below: "In the circumstances of the case, I would like to accept…

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