FAYSAL BANK LIMITED vs HARIS STEEL INDUSTRY (PVT — 2023 CLD 44 LAHORE-HIGH-COURT-LAHORE

Case information

Citation: 2023 CLD 44 LAHORE-HIGH-COURT-LAHORE
Court: Lahore High Court
Year: 2023
Reporter: CLD
Parties: FAYSAL BANK LIMITED vs HARIS STEEL INDUSTRY (PVT
Subject matter: Civil
Provisions referred to: S. 19---C; Civil Procedure Code (V of 1908)

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

FAYSAL BANK LIMITED VS HARIS STEEL INDUSTRY (PVT.) LIMITED S. 19---Civil Procedure Code (V of 1908), O. XXI, Rr. 54, 65, 66 & 90---Execution of decree---attachment proceedings---Sale of property---Public auction---Security, non-deposit of---Effect---Judgment debtor objected to auction proceedings---Contention of decree holder was that objections were not maintainable as no security was deposited by judgment debtor---Validity---as per second proviso to O. XXI, R. 90, C.P.C. until and unless judgment debtor deposited an amount equal to 20% of sum realized at sale or had furnished such security as the Court directed, objection was not maintainable even when there was material illegality and irregularity in auction proceedings---Requirement to deposit 20% of auction price or such other security as directed by Court along with application under O. XXI, R. 90, C.P.C. was mandatory---any application that failed to fulfill such requirement could not be entertained and was liable to be dismissed by Court---Substantial compliance of provisions of O. XXI, R. 54(2), C.P.C. was enough for the purposes of sale proclamation and attracting prospective bidders---In absence of any specific complaint in such regard, entire auction proceedings could not be vitiated by Court---Necessary for objectors to raise in objection petitions not only irregularity or fraud in auction proceedings but they also had to prove before Court that they sustained substantial injury as a result of such irregularity or fraud---High Court declined to interfere in auction proceedings---Petition was dismissed, in circumstances.

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