| Case ID |
e1aa19cf-658b-41a8-a112-92f551702a16 |
| Body |
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| Case Number |
Writ Petition No.18093 of 2001 |
| Decision Date |
Oct 31, 2001 |
| Hearing Date |
|
| Decision |
The Constitutional petition filed by the petitioner was dismissed as it was found to be devoid of merits. The Banking Court's decision to reduce the reserve price from Rs.60 lacs to Rs.50 lacs was upheld, as it did not constitute a review of its prior orders. The court emphasized that the purpose of Banking Courts is to ensure the expeditious resolution of cases related to bank recovery, and that the petitioner had failed to liquidate her liabilities since the decree was passed in June 1998. The court noted that the petitioner did not raise objections to previous orders that were beneficial to her, thus indicating acquiescence in the process. The ruling reinforces the principle that minor adjustments to orders, aimed at facilitating the execution of decrees, do not fall under the jurisdictional review constraints outlined in Section 27 of the Banking Companies Act. |
| Summary |
This case revolves around a Constitutional petition challenging an order of the Banking Court that reduced the reserve price of a property to be auctioned for recovery of bank dues. The petitioner, Mst. Shakila Riaz, argued that the Banking Court had no jurisdiction to review its earlier orders regarding the reserve price. However, the court clarified that the adjustment of the reserve price did not constitute a review but rather a necessary action to facilitate the auction process. The court underscored the importance of Banking Courts in expediting recovery cases and ruled that the petitioner was not entitled to any relief due to her failure to comply with the decree. This ruling highlights the efficiency of Banking Courts and their role in ensuring timely resolutions in financial disputes, reinforcing the need for compliance by judgment debtors. |
| Court |
Lahore High Court
|
| Entities Involved |
Not available
|
| Judges |
MIAN HAMID FAROOQ, J
|
| Lawyers |
Shahid Ikram Siddiqui,
Abdur Rahim Tariq Alvi
|
| Petitioners |
Mst. SHAKILA RIAZ
|
| Respondents |
JUDGE BANKING COURT and others
|
| Citations |
2003 SLD 2879 = 2003 CLD 349
|
| Other Citations |
Messrs Shah Jewana Textile Mills Ltd. v. United Bank of Pakistan through Attorney PLD 2000 Lah. 162,
Allied Bank of Pakistan Ltd. v. Digital Radio Paging (Pvt.) Ltd. and 4 others 2000 CLC 1153
|
| Laws Involved |
Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act (XV of 1997),
Constitution of Pakistan (1973)
|
| Sections |
27,
4,
9,
18,
199
|