Law: Banking Tribunals Ordinance (LVIII of 1984)

Section: 6

Banking Tribunals Ordinance (LVIII of 1984)--Ss. 6(8) & 9---Civil Procedure Code (V of 1908), O.XXI, R.62---Land Acquisition Act (I of 1894), Ss. 4, 11 & 16---Sale in execution of decree---Bank (decree-holder) claimed that suit-land was mortgaged with Bank on 12-12-1990 by -debtor, who was holding the same on basis of sale-deed dated 29-5-1990--- Appellant-Local Development Authority filed objection petition claiming to have acquired such land in year 1970 under Land Acquisition Act. 1894--­Banking Tribunal dismissed objection petition ---Validity--­According to record, Notification of acquisition of such land was issued on 16-2-1968, and its award was issued and possession was taken over by Government in 1970---Such land, thus, stood acquired and had vested in Government since the time its possession was taken over ---Non­ incorporation of relevant entry in Revenue Record would not divest the Authority of its ownership---No objection certificate, dated 4-9-1990 issued by Land Acquisition Collector stating that as per his record, such land had not been acquired, was of no avail, as he had no authority in law to issue any such certificate---High Court accepted appeal, set aside impugned order and deleted such land from "fard taleeka" filed by Bank. JUDGMENT MIAN SAQIB NISAR, J.----Respondent-Bank brought a suit for recovery against respondents Nos.2 to 8, which was decreed on 4-7-1993; in the suit, the claim of the Bank was that the land in dispute had been mortgaged by the respondent No.2 in its favour on 12-12-1990, through execution of memorandum of the deposit of title deed i.e. sale-deed dated 29-5-1990, in the name of said respondent. In the execution proceedings, the property in question was attached and also put to auction, but before the sale could be finalized, the L.D.A. filed objections stating that the land in question, had been acquired under the Land Acquisition Act, 1894 in the year 1971 for the L.D.A.; this application has been rejected by the learned Banking Court vide impugned order dated 20-3-1996, holding that as the incorporation of the acquisition has not been made in the Revenue Record and that the respondent No.2, was…

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