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2005 CLD 1743

MUHAMMAD RAMZAN JAVED and another vs HABIB BANK LIMITED and 2

Citation2005 CLD 1743
CourtLahore High Court
Case No.F.A.O. No.211 of 2002
Date2004-03-22
Judge(s)Mian Saqib Nisar, Sayed Sakhi Hussain Bokhari
ResultOrder accordingly.

ORDER

1. During the course of hearing, the learned counsel for the appellants has made an offer to compensate the respondent No.2 the auction-purchaser, in lieu of his giving up the sale. It is stated that the appellants shall pay Rs.2,00,000 to the respondent No.2-auction-purchaser as the compensation and the auction-purchaser shall also be entitled to withdraw the amount of Rs.4,50,000, deposited by him with the Court; besides that, the appellants shall also satisfy the decree by paying the decretal amount to the decree-holder-Bank, within a period of 30 days. This offer is accepted by the learned counsel for respondent No.2. auction-purchaser as well as the respondent No.1, Bank. Therefore, let the appellants pay the respondent auction-purchaser the amount of Rs.2,00,000 by making deposit with the Banking Court within a period of 30 days from today, which amount along with Rs.4,50,000, already deposited by the said respondent as an auction price of the property, shall be released to him by the Banking Court. Besides, the amount of the decree shall also be deposited by the appellants with the Court within the same period for onward payment to the decree-holder-Bank. In case, the above amounts are not so deposited, this appeal shall be deemed to have been dismissed. It may be pertinent to mention that, any amount deposited by the appellants with the Court or -the Bank, in pursuance of discharging their liability after passing of I he decree, shall be adjusted towards the decretal amount payable to the respondent-Bank. This appeal is accordingly disposed of.

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