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Petitioner: MAHBOOB ALAM and another VS Respondent: CITIBANK and another
Court Name: Lahore High Court Judge(s): Syed Jamshed Ali, M. Javed Buttar Title: MAHBOOB ALAM and another vs CITIBANK and another Case No.: Execution First Appeal No, 8 of 2000 Date of Judgment:2002-05-08 Reported As: 2002 CLD 1244 Result: Case remanded
JUDGMENT
JUDGMENT ' M. JAVED BUTTAR, J.---This Execution First Appeal is directed against the order, dated 22-12-1999 passed by Judge, Banking Court-II, Lahore, whereby the appellants' application under section 18(6) of the Banking Companies (Recovery of Loans, Advances, Credits and Finances) Act, 1997 was dismissed summarily. 2. The appellants claimed to be the owner of the alleged mortgaged property House No, 232, Kareem Block. Allama Iqbal Town, Lahore on the basis of transfer letter issued by the Lahore Development Authority, Lahore. And the case of the appellants is that the above said property was never mortgaged with the respondent-Bank and no equitable mortgage was created as the appellants are in possession of the original sale-deed executed by Muhammad Azam in favour of Riffat Ullah Khan. Judgment-debtor, registered on 29-6-1981, photo copy of which is attached with this appeal as Annexure-F/1 and the original sale-deed produced by the learned counsel of the appellants has been compared with the photo copy available on the record of this appeal. On the other hand, the learned Counsel representing the respondent-Bank/ decree-holder has also produced the original sale-deed executed by Muhammad Azam in favour of Riffat Ullah Khan, judgment-debtor. 3. The abovementioned shows that a deeper inquiry/ investigation is required to ascertain whether any equitable mortgage was created by the respondent No,2 in favour of the Bank, or not but the learned Executing Court dismissed the appellants application in haste. 4. In view of the abovementioned, this appeal, at this pre-admission stage, with the consent of the learned counsel for the parties, is allowed, the above said impugned order is set aside and the case is remanded back to the learned Executing Court for a fresh decision on the
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petitioners'/appellants' application on merits after holding a proper inquiry. The parties are left to bear their own costs.