| Case ID |
d7e9a660-bbad-436e-b0ae-496a190120ba |
| Body |
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| Case Number |
Civil Appeal No. 57 of 2012 |
| Decision Date |
Mar 09, 2016 |
| Hearing Date |
Mar 09, 2016 |
| Decision |
The Supreme Court of Pakistan allowed the appeal, setting aside the impugned judgment dated 01.12.2011, which had nullified the auction process of the disputed property purchased by the appellants for valuable consideration. The Court remanded the case to the Lahore High Court for fresh disposal, emphasizing the need to ascertain whether the appellants were bona fide purchasers and if their rights were protected under the law, despite the subsequent legal developments that had rendered the earlier Banking Court decree ineffective. The decision highlighted the importance of protecting the rights of genuine purchasers in auction sales conducted through lawful means. |
| Summary |
The case revolves around the auction of a debtor's property following an ex parte decree issued by a Banking Court, which was later set aside by a different judgment of the Lahore High Court. The Supreme Court of Pakistan ruled on the appeal concerning this auction, focusing on determining the bona fides of the appellants as purchasers. The Court underlined that the auction process must be upheld if it was conducted in accordance with legal protocols, despite the subsequent legal challenges that arose. The decision underscores the significance of protecting the rights of bona fide purchasers within the financial recovery framework established by the Financial Institutions (Recovery of Finances) Ordinance, 2001, as well as the procedural stipulations outlined in the Civil Procedure Code. The ruling also references previous case law to reinforce the judicial precedent that protects legitimate transactions in property sales, particularly in complex financial disputes involving banking institutions. |
| Court |
Supreme Court of Pakistan
|
| Entities Involved |
Not available
|
| Judges |
UMAR ATA BANDIAL,
FAISAL ARAB,
ANWAR ZAHEER JAMALI
|
| Lawyers |
Abdul Hameed Chohan,
Nazir Ahmed Bhutta
|
| Petitioners |
ZAFAR ALI AND ANOTHER
|
| Respondents |
MUSLIM COMMERCIAL BANK LIMITED AND OTHERS
|
| Citations |
2018 SLD 1564,
2018 CLD 774
|
| Other Citations |
Hudaubia Textile Mills Ltd. and others v. Allied Bank of Pakistan Ltd. and others PLD 1987 SC 512,
Messrs Unicom Enterprises v. Banking Court No. 2, City Court Building Karachi and 2 others 2004 CLC 1452,
Mumtaz-ud-Din Feroze v. Sheikh Iftikhar Adil and others 2009 CLD 594,
Muhammad Attique v. Jam Limited and others PLD 2010 SC 993
|
| Laws Involved |
Financial Institutions (Recovery of Finances) Ordinance, 2001,
Civil Procedure Code (V of 1908)
|
| Sections |
19,
66
|