Dr. IFTIKHAR AHMAD ZAHID Versus Mrs. NILOFER AKHTAR

ORDER

RANA BHAGWANDAS, J.--- Leave to appeal is claimed against the Lahore High Court judgment, dated 23-10-2001 whereby petitioner's, civil revision arising out of an order refusing extension of time for payment of balance sale consideration passed by Senior Civil Judge; Islamabad in a decree for specific performance of contract was dismissed.

2. Petitioner entered into a contract of purchase of the property in suit with the respondent No.1 vide agreement, dated 26-5-1999 for a sum of Rs.42,50,000, out of which a sum of Rs.10,00,000 was paid to respondent No.1 as earnest money. As per terms of the agreement, sale transaction was to be completed and possession of the property to be delivered to the petitioner not later than July 1, 1999. As the terms of the agreement were not adhered to, petitioner was obliged to file a suit for specific performance of contract against respondent No. 1, which was conceded to and was decreed on 31-7-1999 by the trial Court in the following terms:---

3. Before the expiry of the period fixed for the payment of the balance consideration on 28-8-1999 petitioner moved an application for extension of time for payment thereof, which was rejected by the trial Court vide order, dated 30-8-1999. Petitioner impugned the validity and correctness of the order in civil revision before the Lahore High Court, which has been dismissed through judgment impugned in this petition.

4. It is, inter, alia, contended that the respondent No.1, having conceded the claim of the petitioner as regards the decree for specific performance, there was no point in not allowing extension of time for deposit/payment of the balance sale consideration; that the trial Court was not denuded of its power to enlarge the period earlier fixed by it; that there are conflicting views on the question of jurisdiction of a Court after the passing of a decree in the matter of extension of time fixed by the decree and lastly, that there is no authoritative judgment of this Court on the issue ,involved except Shah Wali v. Ghulam Din (PLD 1966 SC 983), which Arose out of decree in the suit for pre-emption.

5. We feel that the question in this petition raised is of first impression and there appears to be no authoritative judgment of this Court on the point, we are, therefore, inclined to grant leave to consider the aforesaid question in the light of relevant law. Order accordingly.

6. Petitioner is directed to deposit balance consideration of Rs.32,50,000 within two days from the date of this order with the Registrar of this Court. The amount, if deposited, shall be invested in the best Government profit-bearing scheme so that the party ultimately entitled to it is not deprived of the fruits thereof.

7. Pending decision of the appeal, subject to deposit of the consideration amount as indicated above, respondent No.1 shall not alienate the property in suit, in any manner.

S.A.K./I-60/S Leave granted.