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UNION LEASING LIMITED versus PAKISTAN INDUSTRIAL CREDIT AND INVESTMENT CORPORATION LIMITED THROUGH DEPUTY MANAGING DIRECTOR

Sections 15 and 19 of the Transfer of Property Act (IV of 1882), the creditors of section 578, had, in the present case, mortgaged the property in favor of the leasing company for the purpose of obtaining financial convenience and with it Was jointly executed for the provision of title deeds. The aforementioned leasing company Seed Mortgage also had the physical collection of the property title documents with SCPP and Form X and was also on record leasing company by the company and mortgagee for its financial recovery. A lawsuit was brought against him. The banking court had ruled that the leasing company had moved the petition under section 15, Financial Institutions (Finance Recovery) Ordinance 2001 for the acquisition of the property, which had not yet been disposed of, but was sold by the banking court. Was instructed. The auctioneer of the court, who was also appointed by another bank, had also obtained a decree against the debtor in a case. ein That company, through Said Bank, stood as a guarantee / guarantee for the financing of another company, and was asked to execute its decree. Regardless of the date of the two orders, the attachments that were denied, were held in mortgage in favor of the property leasing company, and considering the objections, the effect of the mortgage's effect should also be taken into account. The court should prefer mortgage rights rather than litigation times in cases where the owner of the property also stands as a simple surety, and another financial institution has also sought to defend the defendant / judgment. immigration advocates email from Chak Sawara lawyer