A preliminary and a final decree was passed on 11-6-1996 and 3-3-1998 in favour of the appellant.
It filed an execution application. The respondents preferred an objection petition stating that the mortgaged property was exchanged vide decree dated 30-10-1991 passed by the learned Civil Judge, Faisalabad and that the objection petitioner has deposited Rs,15,00,000 with the Habib Bank Ltd. And another amount of Rs,1,29,542 as mark-up and that the property in question could not be auctioned. The Bank contested the application and stated that an amount of Rs,40,00,000 was outstanding. The learned Judge Banking Court-I, Faisalabad held that when the property was put to auction the Bank itself had fixed the reserve price of the property as Rs,16,00,000 as such it is estopped from claiming Rs,40,00,000.
2. At the very outset the learned counsel for the respondents states that he has no objection to the acceptance of this appeal and the case may be remanded to the Banking Court for decision afresh.
' The offer of the learned counsel for the respondents exits is acceptable to the learned counsel for the appellant.
3. In view of the statements of the learned counsel for the parties this appeal is allowed, the impugned order dated 17-5-2005 is set aside and the case is remanded to the Banking Court for decision afresh in accordance with law, where the parties shall be at liberty to agitate all points.
The parties shall appear before the learned Judge Banking Court-I, Faisalabad on 15-2-2006.
C.M. Nos. 24 and 25-C of 2006 ' Since the main appeal has been disposed of, these applications have become infructuous and are disposed of accordingly.