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MCB BANK LIMITED vs IQBAL AHMED Ss — 2022 CLD 1499 KARACHI-HIGH-COURT-SINDH

Case information

Citation
2022 CLD 1499 KARACHI-HIGH-COURT-SINDH
Court
Sindh High Court
Year
2022
Reporter
CLD
Parties
MCB BANK LIMITED vs IQBAL AHMED Ss
Subject matter
Civil
Provisions referred to
S. 19

Fields are extracted from the reported citation and judgment text. Where a detail is not stated in the record, it is not shown.

Judgment text as reported

MCB BANK LIMITED VS IQBAL AHMED Ss. 19 & 22---Execution of decree---Release of property from attachment---Decree holder bank was aggrieved of order passed by Banking Court releasing property in question from attachment---Validity---No mortgage could be created in respect of a property, the title whereof did not vest in mortgager---No person could transfer a right or title to another better than what he himself possessed---Either with the collusion of decree holder and judgment debtor or on account of gross negligence by bank officials who failed to observe legal procedure and due care while accepting subject property for purpose of mortgage, the Bank failed to appreciate that at that time subject property was not owned by mortgager as the same was already sold out to respondents through registered indenture of sub-lease---Even site inspection was not conducted by bank officials, so that possession and title of subject property could have been ascertained at the relevant time---Provisions of S. 19(7) of Financial Institutions (Recovery of Finances) Ordinance, 2001 were fully attracted---High Court declined to interfere in the matter as Banking Court was justified to pass order in question and to issue direction for release of subject property from attachment---Appeal was dismissed, in circumstances.

Other judgments reported in 2022 CLD

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