2010 PLP 337 (CLD)
SONERI BANK LIMITED — Plaintiff Versus ABDUL QADIR JANGDA — Defendant
| Citation | 2010 PLP 337 (CLD) |
| Forum / Court | Karachi |
| Bench Members | N/A |
| Parties | SONERI BANK LIMITED — Plaintiff Versus ABDUL QADIR JANGDA — Defendant |
| Primary Law | Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001) |
Q1: What are the key laws and sections cited in 2010 PLP 337 (CLD)?
This judgment primarily cites: Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001) as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2010 PLP 337 (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: 2010 PLP 337 (CLD) (SONERI BANK LIMITED — Plaintiff Versus ABDUL QADIR JANGDA — Defendant). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Headnotes / Summary
S. 19
Application for
Record had shown that since April, 2009 the execution application had been proceeding for service upon the judgment- debtor
Under S.19(1) of the Financial Institutions (Recovery of Finances) Ordinance, 2001, benefit of execution of a decree had been given to the decree-holder and there was no need to exercise procedure of notice on the judgment-debtor, and the execution proceedings should proceed for attachment
Official Assignee was directed by the High Court to conduct the sale of mortgaged properties pledged with the decree-holder within specified period.
Judgment & Decree
MS. RUKHSANA AHMED, J.
From the perusal of the record it appears that since April, 2009 the execution application has been proceeding for service upon the judgment debtor and even today the bailiff has reported that on the address supplied by the decree holder, the judgment debtor is not available. Perusal of section 19(1) of the Financial Institutions (Recovery of Finances) Ordinance, 2001, benefit of execution of a decree has been given to the decree holder and there is no need to exercise procedure of notice on the judgment debtors. The said section is reproduced as under:- "
19. Execution of decree and sale with or without intervention of Banking Court.--(1) Upon pronouncement of judgment and decree by a Banking Court, the suit shall automatically stand converted into execution proceedings without the need to file a separate application and no fresh notice need be issued to the judgment-debtor in this regard. Particulars of the mortgage, pledged or hypothecated property and other assets of the judgment-debtor shall be filed by the decree-holder for consideration of Banking Court and the case will be heard by the Banking Court for execution of its decree on the expiry of 30 days from the date of pronouncement of judgment and decree: Provided that if the record of the suit is summoned at any stage by the High Court for purposes of hearing an appeal under section 22 or otherwise, copies of the decree and other property documents shall be retained, by the Banking Court for purposes of continuing the execution proceedings." In view of the above service is not required and the execution proceedings should proceed herewith for attachment. Accordingly, the Official Assignee is directed to conduct the sale of the mortgaged properties pledged with the decree holder within three months. Office is directed to send notice with copy of this order to learned Official Assignee. H. B.T. /S-3/K Order accordingly.