QAISER MAJEED versus NATIONAL BANK OF PAKISTAN, RAIWIND BRANCH, DISTRICT LAHORE THROUGH MANAGER
Section 15 (6) and 19 (3) (5) of the decree requesting the borrower to sell the mortgaged property pursuant to the decree states that the banking court was required to transfer the possession before the mortgaged auction. Can't order. Under section 19 (5) of the accuracy of the order of the financial institutions (Recovery of Finance) Ordinance 2001, certain provisions of section 15 including its section (6) were incorporated under which they were held by the financial institution. , Applies to the sale of a mortgage or hypothecated property. The powers conferred by Sections 15 (6) and 19 (5) of the Ordinance, section 19 (3) of the overall effect of the Ordinance, shall be the financial institution that, in order to succeed in such application, must show that the property Is in mortgage. This mortgage or its agent / servant or any person who has been in possession through the mortgage did not voluntarily take possession of it. That the financial institution had sought the sale or purchase or had purchased the mortgaged property. And that the financial institution had applied for the acquisition of such property only after the completion of all these conditions, the banking court would be entitled to order the possession of the mortgaged property to the financial institution or buyer where If one or more of these terms were lacking, the banking court would have no such power before the transfer order of the possession was not required to have the mortgaged property already sold, but the mortgage contained in it. The property will still be sold and the sale is requested by the financial institution. All such conditions are the same. Bzh order for delivery were available in the current situation to have
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