Application for Stay of Auction of Mortgaged Property

IN THE BANKING COURT, district

Suit No. case_number of year

plaintiff_name ... Plaintiff

VERSUS

defendant_name, son/daughter of defendant_father, resident of defendant_address ... Defendant

APPLICATION FOR STAY OF AUCTION OF MORTGAGED PROPERTY UNDER SECTION 15 OF THE FINANCIAL INSTITUTIONS (RECOVERY OF FINANCES) ORDINANCE 2001

The Applicant respectfully submits:

1. In the above suit for recovery, a decree has been passed against the Applicant for Rs. decreed_amount with further mark-up and costs.

2. The property mortgaged as security, bearing property_description, situated at property_location, is scheduled to be auctioned on auction_date.

3. The Applicant has applied for leave to defend the suit under Section 10 FIRO 2001, which is pending consideration before this Court.

4. The Applicant has also filed an appeal against the decree, which is pending before appellate_forum.

5. stay_ground_1. detailed_explanation_1

6. Auction of the mortgaged property will render the case res judicata and cause irreparable injury to the Applicant.

7. stay_ground_2. detailed_explanation_2

8. The balance of convenience heavily favours the Applicant. balance_analysis.

9. The Applicant is prepared to deposit deposit_amount or furnish alternative_security to protect the Plaintiff's interest.

10. A stay order is necessary to prevent the executioner from causing prejudice_to_applicant.

PRAYER

It is, therefore, prayed that this Court may be pleased to:

(a) Stay the auction of the mortgaged property pending the decision of the leave-to-defend application;

(b) Alternatively, stay the auction pending the decision of the appeal;

(c) Direct the Applicant to deposit Rs. deposit_amount as security within deposit_period days;

(d) Restrain the Bailiff/Executor from proceeding with the auction; and

(e) Pass such other order as may be deemed just and proper.

VERIFICATION

Verified on oath at verification_place on this _____ day of _____, year, that the contents of the above application are true and correct to the best of my knowledge and belief.

_____________________________ applicant_name Applicant Date: ______________ Through: _____________________________ counsel_name Advocate for the Applicant