1. MUNIB A. KHAN, J.---Nazir has submitted his reference dated 13-10-2003 wherein he has mentioned an order dated 12-9-2003 of this Court according to which the Nazir conducted auction of the property and several bidders attended it but on enquiry, it transpired to the Nazir that the property has already been sold out in favour of Messrs Naseem Gul, Mehar Rafique, Muhammad Ayub and Mrs. Shehla by S. M. Hasnain. D.G. Of the Multipurpose Finance Corporation on 21-4-1999, by Registered No,12, Book No,1 Addl. Pages Nos.1 to 14, Volume 15 dated 21-4-1999. Mukhtiarkar, Gadap Town, also has submitted a statement along with photocopy of Form-VII showing that the entry in the Register of Rights is made accordingly. In these circumstances, bidders restrained themselves from further participating in the auction. The decree-holder has filed objections in this aspect and has taken the grounds that the property could not be sold out as being hit by section 23(2) of the Financial Institutions (Recovery of Finances) Ordinance, 2001. Secondly that the property was mortgaged with the decree-holder and could not be transferred and thirdly the Court proceedings were pending and during that no transfer can take place without permission of the Court. In this respect, learned counsel for the plaintiff has relied upon 2006 CLD 6.
2. ' Mr. Asghar Farooqui, learned counsel for the purchaser of property states that he has purchased the property without knowledge of any litigation and the title has been registered in his name. The contention of learned counsel for purchaser is not tenable in presence of the above strong legal objections, therefore, transfer of rights in favour of all the above transferees through abovementioned document or any other document is recalled and set aside and it is declared that the property will remain in the position as it was before 21-4-1999 and the concerned departments are directed to mend their record accordingly. Nazir is directed to proceed further to sell out the property in terms of order dated 12-9-2003.