JHANG TEXTILE INDUSTRIES (PVT.) LIMITED versus PAKISTAN INDUSTRIAL CREDIT AND INVESTMENT CORPORATION LTD.
Sections 15 and 19 of the Civil Procedure Code (v. 1908), AXXI, Rr 66 and 85 were ordered to preserve the auction proceedings, which can only be modified by a banking court and not by a court auxiliary property. According to the declaration, the reserve price set by the banking court and the court were not authorized by law to amend the auction's terms, in particular, the reserve price set by the court was required by the court auction Had to comply with the terms of the auction and paid according to the provisions of O XXI, Rule 66, CPC, so the bidder And the notice of the decision was not given any notice to present the declaration, therefore, there was no justification. Sale in favor of the respondents, which can be confirmed, the remaining 3 / 4th of the auction amount was submitted to the court within fifteen days from the date of sale but no cost was deposited to the NT so that the High Court mortgaged the property. Was ordered to be re-auctioned as auction proceedings and the rejection of the objection request by the Banking Court and the issuance of a cell certificate were illegal and allowed the appeal to be considered in law.
Related judgments — Lahore High Court Lahore, 2013
