MATHEW Vs. CATHOLIC BANK OF INDIA LTD

JUDGEMENT

(1.) This is an application under Sub-s.(8) of S.20 of the Kerala Agriculturists' Debt Relief Act, 1970 for setting aside the sale of a few items of immovable properties belonging to the applicant in execution of a money decree in O. S. No. 69 of 1124 on the file of the District Court, Kottayam. The decree holder is a banking company. The decree is dated 1-3-1952; and it was for an amount of Rs. 27,000 and odd with 9% future interest and costs. The principal amount of the debt was Rs. 27.000/-. The properties were purchased by the decree holder on 24-9-1957 for a sum of Rs. 55.703-42. The judgment debtor filed an application in the execution court to set aside the sale on the ground of material irregularity in the conduct of the sale resulting in substantial injury. The decree holder filed an application in that court for appointing a receiver for the said properties. The execution petition as well as the application for setting aside the sale and the receiver application were withdrawn to this Court and that is how the matter came before me. The execution petition was numbered as Application No. 141 of 1970 in this Court. The application to set aside the sale and the application for appointment of receiver were numbered as Nos. 142 and 143 respectively of 1970 in this Court. Application No. 142 of 1970 has been dismissed by me on the merits on 5-3-1971.

(2.) After the above matters were withdrawn to this Court, the judgment debtor filed the present application under S.20(8) of the Kerala Agriculturists Debt Relief Act, 1970 for setting aside the sale. This Act came into force on 14-7-1970. The applicant claims that he is entitled to the benefit of S.20(8) of the Act and to get the sale set aside by depositing the first instalment of the decree debt as provided in S.4 of the Act. The application states that the applicant has paid a sum of Rs. 1,381/-as the first instalment under the Kerala Agriculturists Debt Relief Act, 1958, and that after giving credit to that amount he is depositing another sum of Rs. 3,000/-which would be the balance necessary to make up the first instalment. It further states that the applicant is prepared to pay the deficit, if any. The application is opposed by the decree holder on several grounds. The main contention advanced by the decree holder is that S.20(8) does not apply to the case, that the applicant has not also deposited the requisite amount within the time allowed by the said provision, and that, in any event, the application is not maintainable.

(3.) It is necessary to refer to some of the provisions of the Act in order to understand the respective contentions of the parties. Debt is defined in S.2(4) of the Act. That definition also says that debt will not include a number of liabilities which are enumerated therein. One of them is contained in clause (1); and it reads as follows:--