| Case ID |
3b91c6fa-4cd4-4880-8045-6d9307c35f29 |
| Body |
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| Case Number |
E.F.A. No. 54 of 2003 |
| Decision Date |
Jul 08, 2004 |
| Hearing Date |
Jul 08, 2004 |
| Decision |
The Lahore High Court allowed the appeal of the appellant, TRUST MODARABA, directing the Banking Court No. II to decide the question about ratable distribution of the sale proceeds of the property bearing No. 19-Main Gulberg, Lahore, in accordance with law. The Court emphasized the need for equitable distribution amongst decree holders and pointed out that the execution application of the appellant should have been treated as a request for ratable distribution under section 73 of the Civil Procedure Code. The Court clarified that the Banking Court had received the auction proceeds and should consider all pending decrees before disbursing the amount. |
| Summary |
In the case of E.F.A. No. 54 of 2003, the Lahore High Court dealt with the issue of ratable distribution of auction proceeds from a property attached by multiple courts. The appellant, TRUST MODARABA, contended that the Banking Court failed to recognize its right to a share of the sale proceeds from the property at 19-Main Gulberg, Lahore, which was sold in execution of a decree in favor of TRUST LEASING CORPORATION LTD. The court examined various sections of the Civil Procedure Code, particularly sections 63 and 73, which govern the distribution of proceeds in cases where multiple decrees exist against the same judgment-debtor. The court determined that since both the Modaraba Tribunal and the Banking Court were presided over by the same judge, the execution application by TRUST MODARABA should be treated as a request for ratable distribution. The ruling underscored the necessity for the Banking Court to consider all pending decrees before distributing the sale proceeds equitably. This case highlights the intricacies of civil procedure and emphasizes the importance of ensuring fair treatment of all creditors in similar situations. |
| Court |
Lahore High Court
|
| Entities Involved |
TRUST LEASING CORPORATION LTD.,
TRUST MODARABA
|
| Judges |
MIAN SAQIB NISAR,
SYED SAKHI HUSSAIN BOKHARI
|
| Lawyers |
Sh. Naseer Ahmad,
Syed Najam-ul-Hassan Kazmi
|
| Petitioners |
TRUST MODARABA through Trust Management Services, Lahore
|
| Respondents |
TRUST LEASING CORPORATION LTD. through Chief Executive and 4 others
|
| Citations |
2005 SLD 1801,
2005 PLD 5
|
| Other Citations |
Simla Banking and Industrial Co. Ltd. Lahore v. Indo Swiss Trading Co. Ltd. Calcutta and another 1938 Lah. 754,
Jagdish Chand v. Bhim Sain and others AIR 1980 Delhi 283,
Pakistan Industrial Credit and Investment Corporation Limited Peshawar Cantt. and others v. Government of Pakistan through Collector Customs, Customs House, Jamrud Road, Peshawar and others 2002 SCMR 496,
PICIC v. Allied Textile Mills Ltd. 1991 MLD 2301,
Dwarkadas v. Ghasiram AIR 1921 Nag. 5,
S.M. Thakkar v. M/s. A.K. Hazra & Sons and others AIR 1979 Pat. 38,
Sm. Rajlakshmi Dassi v. Bonamali Sen and others AIR 1955 Cal. 573,
Vishnubhotla Ramayyan v. Sajja Namayya and others AIR 1943 Mad. 165,
Balaji v. Gopal AIR 1929 Nag. 148,
Maidin Rowthan v. Dakshyani Amma and another AIR 1941 Mad. 125
|
| Laws Involved |
Civil Procedure Code (V of 1908)
|
| Sections |
47,
63,
73,
O.XXI, R.100
|