48/2013 J.M M/s.Pearl Fabrics Corporation & others (Applicant) V/S M/s.KASB Bank Ltd., & another (Respondent)
Sindh High Court
Bench: Hon'ble Mr. Justice Nazar Akbar
Order Date: 22-OCT-14
(a) Financial Institutions (Recovery of Finances) Ordinance (XLVI of 2001)--- ----S. 19(1), 19(2), 4 & 9---Civil Procedure Code (V of 1908), S. 12(2) & O.XXIII, Order XXI---Interpretation of S. 19 of the Financial Institutions (Recovery of Finances) Ordinance, 2001---Execution of decree---Power of Banking Court---Applicability of provisions of C.P.C. to execution of decrees under the Financial Institutions (Recovery of Finances) Ordinance, 2001---Scope---Execution of decree and sale of mortgaged property---Judgment-debtor sought setting aside of order of Banking Court whereby application for execution of decree was allowed to be withdrawn and permission for filing a fresh application was given to the decree holder bank---Contention of judgment-debtor was inter alia that impugned order violated O.XXIII, Rule 4, C.P.C.---Held, that the Banking Court derived its power for execution of its decree from S. 19(1) of the Financial Institutions (Recovery of Finances) Ordinance, 2001 and not from S. 19(2) of the Ordinance---Reference to provisions of the C.P.C. in said S. 19(2) of the Ordinance was for the purpose of adopting a "procedure" for execution of the Banking Court's decree---Procedure to be followed by a court and exercise of its authority were two different things---Powers conferred on an ordinary court under the C.P.C. were alien to the powers conferred on the Banking Court---Authority/power of Banking Court was not subservient to powers conferred on a Civil Court under provisions of the C.P.C.---Banking Courts, as a practice, allowed the plaintiff Financial Institution to file a formal execution application in terms of O.XXI, Rule 11 of the C.P.C. for sake convenience for satisfaction of decree passed by the Banking Court and merely accepting such an application under any provision of the C.P.C. did not mean that such proceedings were converted into execution of a decree in an ordinary suit and did not therefore entail that power conferred on Banking court under the Financial Institutions (Recovery of Finances) Ordinance, 2001 stood compromised or nullified---Subsections (1) and (2) of S. 19 of the Financial Institutions (Recovery of Finances) Ordinance, 2001 were to be read together---Any embargo in terms of O.XXIII, Rule 4, C.P.C. regarding applicability of provisions of O. XXIII, C.P.C. in the execution proceedings had no bearing on power of Banking Court in execution of a decree---Irrespective of fact that certain provisions of C.P.C. were mentioned in execution application of decree-holder Bank, Banking Court under S.19(1) of the Ordinance had power to allow decree-holder to withdraw earlier application and file a fresh one---Power of Banking Court in terms of S.19(1) of Financial Institutions (Recovery of Finances) Ordinance, 2001 was protected by section 4 of the Ordinance whereby provisions of the Financial Institutions (Recovery of Finances) Ordinance, 2001 had an overriding effect on provisions of C.P.C.---Application under S.12(2), C.P.C. was dismissed, in circumstances. (b) Interpretation of Statutes--- ----All provisions of a statute were to be read together and any particular provision of a statute was not to be considered in isolation unless and until there was a clear-cut conflict, which was irreconcilable.Full judgment text for this case is not yet available on Pakistan Law Reports. Check the official Sindh High Court case law portal for the complete order.
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