2002 PLP 1244 (CLD)
MAHBOOB ALAM and another‑‑‑Appellants Versus CITIBANK and another‑‑‑Respondents
| Citation | 2002 PLP 1244 (CLD) |
| Forum / Court | Lahore |
| Bench Members | M. Javed Buttar and Syed Jamshed Ali, JJ |
| Parties | MAHBOOB ALAM and another‑‑‑Appellants Versus CITIBANK and another‑‑‑Respondents |
Q1: What are the key laws and sections cited in 2002 PLP 1244 (CLD)?
This judgment primarily cites: statutory provisions as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2002 PLP 1244 (CLD)?
The case was heard and decided by the Lahore bench comprising: M. Javed Buttar and Syed Jamshed Ali, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2002 PLP 1244 (CLD) (MAHBOOB ALAM and another‑‑‑Appellants Versus CITIBANK and another‑‑‑Respondents). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Representation
- M. Abbas Mirza for Appellants.
- Shahid Ikram Siddiqui for Respondent No. 1.
- Date of hearing: 8th May, 2002.
Headnotes / Summary
Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997)‑‑‑ ‑‑‑‑Ss. 18 & 21‑‑‑Civil Procedure Code (V of 1908), O.XXI, R.58‑‑‑Execution of decree‑‑‑Investigation of claim in respect of mortgaged property‑‑‑Appellant claimed to be the owner in possession of disputed property on the basis of transfer letter issued by the Development Authority and was in possession of original sale‑deed executed in favour of judgment-debtor, and that disputed property had never been mortgaged‑‑‑Decree‑holder Bank had also produced original sale‑deed executed in favour of judgment‑debtor‑‑‑Banking Court dismissed appellant's application summarily‑‑ Validity‑‑‑Deeper inquiry/ investigation was required to ascertain whether any equitable mortgage had been created by judgment‑debtor in favour of Bank or not‑‑‑Banking Court had dismissed appellant's application in haste‑‑‑High Court allowed the appeal, set aside impugned order and remanded the case to Banking Court for its fresh decision on merits after holding a proper inquiry.
Judgment & Decree
M. JAVED BUTTAR, J.‑‑‑This Execution First Appeal is directed against the order, dated 22‑12‑1999 passed by Judge, Banking Court‑II. Lahore, whereby the appellants' application under section 18(6) of the Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997 was dismissed summarily.
2. The appellants claimed to be the owner of the alleged mortgaged property House No. 232, Kareem Block, Allama Iqbal Town, Lahore on the basis of transfer letter issued by the Lahore Development Authority, Lahore, and the case of the appellants is that the above said property was never mortgaged with the respondent‑Bank and no equitable mortgage was created as the appellants are in possession of the original sale‑deed executed by Muhammad Azam in favour of Riffat Ullah Khan. judgment‑debtor, registered on 29‑6‑1981, photo copy of which is attached with this appeal as Annexure‑F/ 1 and the original sale‑deed produced by the learned counsel of the appellants has been compared with the photo copy available on the record of this appeal. On the other hand, the learned counsel representing the respondent‑Bank/ decree‑holder has also produced the original sale‑deed executed by Muhammad Azam in favour of Riffat Ullah Khan, judgment‑debtor.
3. The abovementioned shows that a deeper inquiry/ investigation is required to ascertain whether any equitable mortgage was created by the respondent No.2 in favour of the Bank, or not but the learned Executing Court dismissed the appellants application in haste.
4. In view of the abovementioned, this appeal, at this pre‑admission stage, with the consent of the learned counsel for the parties, is allowed, the above said impugned order is set aside and the case is remanded back to the learned Executing Court for a fresh decision on the petitioners'/ appellants' application on merits after holding a proper inquiry. The parties are left to bear their own costs. S.A.K./M‑1170/L Case remanded.