Legal Question in Banking Law in Pakistan

I had taken a loan from HBL Karachi on my property in 1991 and was not able to pay anything till 1993 hence the bank filed a suit against me in the banking court of Karachi in 1993 and a consent decree was passed that I will pay back the complete amount along with the mark up. Somehow I was able to pay back the complete principle amount by 1995 but could not pay the markup. In 1996-1997 the bank once again filed a suit against me but declared that the outstanding amount was not only the markup but also the principle amount, while I was trying to sort this out with the bank, the lawyers and banking staff got the property declared for auction and without informing me through any legal notice directly. The banking court only provided notices in the news papers and that was it. A false auction took place in the court books saying that the auction was legal and done on the exact site. Whereas nothing like this happened. I came to know this through a letter sent by a lawyers association informing that my property was auctioned and I should investigate as I will have to leave empty handed if I don�t take any action. On investigating I came to know everything and I went to high court for justice and the high court gave me a stay and gave us the time to pay the markup in the year 1997 and we also paid the principle amount since that time nothing is outstanding against me and a couple of months ago when the high court announced their decision that the banking court should reconsider its decision the auction purchaser again bribed the court and by false means got the banking court decision in his favor.

I have to queries here

What is the banking courts LAWS of AUCTION. On placing an auction what are the steps that the banking court needs to take place.

In the above case where do you see me standing as the auction purchaser does not want to leave my property and the bank is silent as it has received money from both parties.

Also would request you to provide you opinion on what can i do to save my house


Asked on 9/10/11, 11:40 pm

1 Answer from Attorneys
Salman Khan International Lawyer

File an appeal against the order of banking court.. You can get a stay order from the appellate court on the bases of proofs of payment made.. You stand a good chance. For more do consult me at [email protected]

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Answered on 9/11/11, 8:15 pm


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