2008 PLP 756 (CLD)
Syed WASEEM HUSSAIN — Petitioner Versus PAKISTAN EXPORT FINANCE GUARANTEE LIMITED and 2 others — Respondents
| Citation | 2008 PLP 756 (CLD) |
| Forum / Court | Karachi |
| Bench Members | N/A |
| Parties | Syed WASEEM HUSSAIN — Petitioner Versus PAKISTAN EXPORT FINANCE GUARANTEE LIMITED and 2 others — Respondents |
| Primary Law | (b) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001), (a) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001) |
Q1: What are the key laws and sections cited in 2008 PLP 756 (CLD)?
This judgment primarily cites: (b) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001), (a) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001) as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2008 PLP 756 (CLD)?
The case was heard and decided by the Karachi bench comprising: N/A.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2008 PLP 756 (CLD) (Syed WASEEM HUSSAIN — Petitioner Versus PAKISTAN EXPORT FINANCE GUARANTEE LIMITED and 2 others — Respondents). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Representation
- Saalim Salam Ansari and Mukhtar Ahmed for Petitioner.
- Naveed-ul-Haq for Respondent No.1.
- Heard Mt. Salim Salam Ansari, for the petitioner and' Mr. Naveedul Haq, for respondent No.1; Mr. Sultan Ahmed Khan, for respondent No. 2, is called absent without any intimation.
- Learned counsel for respondent No. 1 has further stated at. the bar that sale proceeds of the mortgaged property in question have already been deposited by the respondent before the learned Banking Court and that the sale-deed of the said property also stands executed and at present only the part remaining to be performed towards completion of the said mortgaged property under execution of the suit, is to deliver the possession of the property to the petitioner. Learned counsel for the respondent No. 1 has placed reliance on Bank of Khyber v. Messrs Spencer Distribution Limited and others 2003 CLD 1406. Learned D.A.-G also supports the petition against the impugned order.
Headnotes / Summary
S. 15(10)
Constitution of Pakistan (1973), Art.199
Constitutional petition
Provisions of S.15 of Financial Institutions (Recovery of Finances) Ordinance, 2001 being directory in nature no penal consequence had been provided under S.15 and cases were to be decided on merits and not merely on the basis of technicalities.
S.15(10)
Constitution of Pakistan (1973), Art. 199
Constitutional petition
Sale proceeds of mortgaged property in question had already been deposited by the respondent before the Banking Court; sale deed of the said property also stood executed and at present only the part remaining to be performed towards completion of sale of said mortgaged property, under execution of suit, decree was to deliver the possession of the property to the petitioner
High Court, in circumstances, allowed the constitutional petition, set aside the impugned order and remanded the matter to Trial Court, with directions to re-hear the parties on the point involved in the case and to decide the same afresh in accordance with the relevant law.
Judgment & Decree
Heard Mt. Salim Salam Ansari, for the petitioner and' Mr. Naveedul Haq, for respondent No.1; Mr. Sultan Ahmed Khan, for respondent No. 2, is called absent without any intimation. Both the learned counsel have argued, at the bar, that the provisions of section 15 of the Financial Institutions (Recovery of Finances) Ordinance, 2001, are directory in nature and that the same are not mandatory and further that no penal consequence has been provided under the said provisions and further that the cases of the present nature are to be heard and decided on merits and not merely on the basis of technicalities. Learned counsel for respondent No. 1 has further stated at. the bar that sale proceeds of the mortgaged property in question have already been deposited by the respondent before the learned Banking Court and that the sale-deed of the said property also stands executed and at present only the part remaining to be performed towards completion of the said mortgaged property under execution of the suit, is to deliver the possession of the property to the petitioner. Learned counsel for the respondent No. 1 has placed reliance on Bank of Khyber v. Messrs Spencer Distribution Limited and others 2003 CLD 1406. Learned D.A.-G also supports the petition against the impugned order. Under the circumstances, this petition is hereby admitted as well as allowed; impugned order is- set-aside and the case is remanded to the learned trial Court with direction to re-hear the parties on the point involved in the case and to decide the same afresh in accordance with the relevant provisions of law. Petition stands disposed of. M.B.A./W-4/K Case remanded.