RAO MUHAMMAD SADAQAT ALI versus RANA JAMAL AKBAR ICE FACTORY RAJAN PUR
Under Section 15 of the Financial Institutions (Recovery of Finance) Ordinance, 2001, the auction of property held by the bank by the bank was alleged by the debtor to be a forgery, and without notice. The banking court of KKK had accepted the objection and put it aside. The auction buyer's auction circle was that the object request was banned. The Banking Court adjourned the auction after four years on the restoration and construction of the property in favor of a full bench of the Lahore High Court in Mohammad Omar Rathore v. Federation of Pakistan 2009. The Institution (Finance Recovery) Ordinance 2001 will not apply for auctioned property on August 23, 2001 as the ultra vires of the Constitution on 8th 2006. Advertisement of proposed auction in two journals in accordance with Article 15 (4) of the Bank. Was not proven. The ordinance bank did not submit the auction accounts to the banking court within thirty days, the auction report said, the bank had auctioned at his office and forwarded the report to his head office, but approval was available on record. The bank did not sell the property less. The Reserve Price Bank did not notify the banking court or local authorities when it handed over the auction property to the auction buyer, the auction report did not include a record list of the participating bidders without its inventory bank being prepared. The other action on the occasion was apparently in the face of the record between the bank and the auction buyer. The auction buyer did not provide any details. The High Court decided
Related judgments — Lahore High Court Lahore, 2013
