Sections 10 and 15 Auction Delivery Account Statement Without the Intervention of the Auction Court, Non-filing of Objections by the Occupier of the Property (6) The required account statement was not filed within 30 days. The Institutions (Recovery of Finance) Ordinance, 2001 sells mortgaged property in exercise of the powers conferred under Section 15 of the Financial Institutions (Financial Recovery) Ordinance, 2001, to the legitimate financial institutions, it was the responsibility of the Banking Court File the appropriate account for the proceeds from the sale. The 30 days sale of the property may not be appropriate for valuation due to default by the financial institutions in submitting the account statement within the period provided by section 15 (10) of the Financial Institutions (Financial Recovery) Ordinance 2001 ? The sale of mortgaged property under section 15 of the Financial Institutions (Art Recovery) Annex, Ordinance, 2001 was to be decided by the Banking Court, which disputes non-compliance with Article 15 (10) of the financial institutions. Ordinance, 2001 included the time period (recovery) provided under section 15 (10) of the financial institutions. The Finance (Ordinance, 2001) was to go on the date of registration of the sale deed in connection with the mortgage in favor of the buyer; the financial institutions were required to file under Section 15 (9) of the Financial Institutions (Recovery of Finance) Ordinance 2001 ? The calculation of the sale proceedings in the banking court on net sales income was filed on 24th 2004, when the financial institution filed a written statement on the banking court on 23 11 2004. Auction buyer's
Related judgments — Karachi High Court Sindh, 2009
