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INDUSTRIAL DEVELOPMENT BANK OF PAKISTAN THROUGH DULY AUTHORIZED PERSON MR. ZAHID WAHEED KHAN versus MESSRS LUCK FRUIT PRODUCTS

Section 15 (6) Failure to pay bankruptcy court proceedings for failure to recover bankruptcy proceedings, collection of mortgages other than mortgages by decision lenders, scope suit plaintiffs bank / appellant (order) ) Was decided against the defendants / during the respondents and execution proceedings, the court canceled the property held by the defendants / defendants, the defendants / defendants, later, the verdict. Filed a petition to attach the property of the lenders to the plaintiff's bank which did not hold the mortgage had gone. The defendants / decedents referred to the plaintiff / decree holder applied for the restoration of possession of the property in the case that the property was never mortgaged. This decision can be satisfied after the sale of the property and the sale of the property through the property. The decision lenders had given them a raft of not selling the property in question and settling the accounts. The court accepted the petition filed by the decision-makers under section 15 (6) of the Financial Institutions (Recovery of Finance) Ordinance 2001; the decree-holder can only take possession of the property in which the judgment was indebted to him. There was a mortgage in the property, the property was not mortgaged with the claimant. Therefore, the plaintiff / defendant had no legal right to grant possession of the property to the judge / defendant who had already mortgaged his property and He was attached during the execution. The action, therefore, is to sell the mortgaged property and recover the illicit money. law firms from Allahabad lawyer