SPINGHAR TEXTILE MILLS LTD. versus UNITED BANK LIMITED
Section 19 Civil Procedure Code (v. 1908), AXXI, RR 64, 65, 66 and 90 objected to the decision on execution and confirmation of the auction order, as the declaration mentioned the reserve price. Was not done , The entire auction operation was bound to be set aside. Once the banking judge had decided to execute the decree through a public auction of the mortgaged property under the CPC provisions, the auction terms had already been reached. The settlement was made and subsequently the same declaration was formally incorporated as made under the provisions of R 64, 65 of, of OXXI, auctioned off to CPC for the Banking Judge. It was not necessary to state the value of the real estate. More commonly referred to as the reserve price; however, it was mandatory that the parties determine the default price, namely the order and decision maker, in the declaration to specify the above price Behind this is to ensure full disclosure of the expected bidder. Intended to participate in the proposed auction of the estimated mortgaged property, the auction decision made by the banking judge did not mention a separate auction decision for the machinery, plant and landed property. Was. This declaration was not included in not only the clear letter but also the spirit behind the provisions contained in OXXI, CPC 66 of the CPC, which was used in the R 90 term of the irregularities provided in O XXI. Terms of the banking court, with instructions from the banking judge, to instruct the banking judge for a fresh auction of the property.
Related judgments — Peshawar High Court NWFP, 2011
