ASKARI BANK LIMITED vs A. H — 2024 CLD 360 KARACHI-HIGH-COURT-SINDH

Case information

Citation: 2024 CLD 360 KARACHI-HIGH-COURT-SINDH
Court: Sindh High Court
Year: 2024
Reporter: CLD
Parties: ASKARI BANK LIMITED vs A. H
Subject matter: Civil

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

ASKARI BANK LIMITED VS A. H. INTERNATIONAL (PVT.) LTD. Ss.19, 22 & 23---Execution proceedings---Property not mortgaged---Scope---Applicant claimed that property in question was not part of mortgaged properties and if liabilities of judgment debtors were not satisfied, then the same could have been recovered by liquidating other mortgaged properties with decree holder bank and not property in question---Validity---At all material times, decree holder bank was aware of such factual and legal position, that suit property was actually mortgaged with another bank---Property in question was sold in proceeding instituted by other bank, which was disclosed by judgment debtors in their leave to defend application---Decree holder bank opted to include property in question in Compromise Application which was illegal and void ab initio in view of the earlier judicial Order dated 4.10.2008 passed by Banking Court and the same could not be interfered with in a collateral proceeding but only through statutory hierarchy provided in Financial Institutions (Recovery of Finances) Ordinance, 2001---Order passed by Banking Court was without jurisdiction and property in question could not have been part of compromise decree between decree holder bank and judgment debtors---Compromise order and decree to the extent of property in question was not obtained with bona fide intention, but through misrepresentation and subsequent order passed was also not correct---Application was allowed accordingly.

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