Law: Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)

Section: 19

Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--S. 19---Civil Procedure Code (V of 1908), S.12(2) & O.XXI, R.58--Challenge to decree or order on plea of fraud and misrepresentation-Execution proceedings-Remedy under S.12(2), CP.C. eras attracted when an order, or decree had been obtained by fraud and misrepresentation and any person aggrieved by said order, and decree could invoke the same--Provisions of O.XXI, R.58, C.P.C., had provided remedy to challenge the attachment order on the ground that property in dispute was not liable to be attached under decree--­Under provisions of S.19(7) of Financial Institutions (Recovery of Finances) Ordinance, 2001 it was for the Banking Court to investigate claims and objections in respect of attachment or sale of any property whether mortgaged or not and all questions concerning right, title or interest of person whether or not party to decree in attached property, had to be adjudicated upon and determined by Banking Court executing decree and not by any other Court. JUDGMENT The applicant filed application under section 12(2), C.P.C. against the consent judgment and decree passed in Suit No. 1591 of 1997 to set aside the same only to the extent of Property No.33/4, Block 7 and 8, at rear side of Property No.33/4 Banglore Coop. Housing Society, Karachi, on the ground that by misrepresentation, fraud, with the consent of the parties it was ordered that said property be sold, whereas same is not owned by the defendants nor defendants have any right, title or interest in it. The plaintiff Messrs Allied Bank Ltd. and defendants of Suit No. 1591 of 1997 remained absent, although plaintiff and defendants Nos.5 to 11 were served through publication of notice in newspaper. Mr. Zamir-ul-Haque, Advocate, filed power on behalf of defendants Nos. 1 to 4. The defendants Nos. 1 to 4 did not file counter-affidavit to application under section 12(2), C.P.C. Heard Mr. Ejaz Ahmed, Advocate for the applicant. Brief facts for the purpose of disposing of the application are that the plaintiff Bank filed suit for recovery of Rs.441,494,073 against the defendants. The plaintiff also prayed for final mortgage decree in…

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