| Case ID |
ece16c7b-63f1-4240-b84d-fc2bb22f9efd |
| Body |
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| Case Number |
E.F.A. No.403 of 2003 and E.F.A. No.386 of 2003 |
| Decision Date |
Feb 23, 2006 |
| Hearing Date |
Mar 02, 2006 |
| Decision |
The Lahore High Court ruled that the Banking Court, while acting as an executing Court, lacks the jurisdiction to impose a requirement for the objection petitioner to deposit 20% of the sale price before hearing the objection petition. The court found that such a condition is illegal and in violation of the law. Consequently, the orders dismissing the objection petitions due to the non-deposit of the required amount were set aside, allowing the objections to be heard on their merits. |
| Summary |
In the case of Syed MUHAMMAD EHSAN ALI Vs. ZARAI TARAQIATI BANK LIMITED, the Lahore High Court addressed the legality of the Banking Court's requirement for petitioners to deposit 20% of the sale price as a condition for hearing objection petitions. The court clarified that under Section 19(7) of the Financial Institutions (Recovery of Finances) Ordinance, 2001, such a requirement is not within the jurisdiction of the Banking Court. This ruling followed previous case precedents which established that imposing such conditions violates the legal framework governing execution proceedings. The court ultimately set aside the orders dismissing the objection petitions, reinforcing the rights of petitioners in financial recovery cases and ensuring adherence to lawful procedures. This case highlights the importance of judicial oversight in financial matters and the protection of petitioners' rights in the face of potentially unlawful judicial requirements. |
| Court |
Lahore High Court
|
| Entities Involved |
ZARAI TARAQIATI BANK LIMITED
|
| Judges |
MIAN HAMID FAROOQ,
SYED HAMID ALI SHAH
|
| Lawyers |
Shahid Ikram Siddiqui,
Muhammad Mohsin Chohan
|
| Petitioners |
Syed MUHAMMAD EHSAN ALI
|
| Respondents |
ZARAI TARAQIATI BANK LIMITED
|
| Citations |
2006 SLD 2871 = 2006 CLD 622
|
| Other Citations |
2002 CLD 1742,
2004 CLD 1281
|
| Laws Involved |
Financial Institutions (Recovery of Finances) Ordinance, 2001
|
| Sections |
19(7)
|