MULTAN BRAIN CENTER vs NATIONAL BANK OF PAKISTAN Ss — 2023 CLD 1448 LAHORE-HIGH-COURT-LAHORE

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MULTAN BRAIN CENTER VS NATIONAL BANK OF PAKISTAN Ss. 19, 15 & 22---Execution of decree of Banking Court---Auction of mortgaged property---Fair reserve price, determination of---Scope---Banking Court fixed new reserve price of mortgaged property on an application moved by decree-holder/Bank because earlier auction proceedings could not succeed as no bidder came forward---Application raising objection on determination of new reserve price moved by Judgment-debtors/appellants was dismissed by the Banking Court---Validity---Record revealed that earlier reserve was fixed pursuant to the evaluation having been submitted by the parties---Banking Court passed order on application for fresh determination of reserve price moved by the decree-holder/Bank, however, on that day/date no one was present on behalf of judgment-debtors/appellants---Banking Court on the very first date, accepted the said application (moved by decree-holder/Bank) in summary manner without issuing any notice or calling reply from the judgment-debtors/appellants---New reserve price determined by the Banking Court was quite low as compared to the earlier fixed reserve price---Determination of fair reserve price was always in interest of both sides because the same ensured the recovery for decree-holder and at the same time it guaranteed that judgment-debtor might not be deprived from his lawful entitlement---High Court set-aside new reserve price fixing order passed by the Banking Court while accepting application moved by the appellants, and the application under S. 151 of the Civil Procedure Code, 1908 moved by the decree-holder (Bank/respondent )for fresh determination of reserve price, would be deemed pending before the Banking Court---Execution First Appeal was allowed, in circumstances.

MULTAN BRAIN CENTER vs NATIONAL BANK OF PAKISTAN Ss — 2023 CLD 1448 LAHORE-HIGH-COURT-LAHORE

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