BANKERS EQUITY LTD., STATE LIFE BUILDING, LAHORE versus ALI PAPER AND BOARD MILLS LTD. AND 11 OTHERS
Civil Procedure Code Order XXI, XX 11, and 66 Banking Companies (Debt, Progress, Recovery of Credit and Financial Issues) Act (XV of 1997), Section 18 Exec Execution Order, for the issuance of CPC orders and orders, The adjudicator's property was auctioned off to satisfy the banking court-approved decree before the highest bid was Rs 52 million and the highest bidder after negotiations. The purchase price amounted to Rs. The auction was ordered and later the highest bid in the auction was only Rs 26 million, in which the decree holder (bank) believed that most of the sale price would be charged by the sales tax department, for the return of the execution request. The High Court, which filed the petition, did not appreciate the approach offered by the bank artists in handling public funds, which is fully satisfied and compliant with the court order, a $ 492 million offer was confirmed. The application for the return of the execution request was dismissed along with court observations on the conduct of the Declared Holder Bank officials and It was directed to send a copy of its decision to the Governor State Bank.
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