BALABHADRAN Vs. SARADA

JUDGEMENT

(1.) (i) What is the legal effect and consequences of a declaration that the transfer of property is voidable under Section 53 of the TP Act

(2.) The brief facts, necessary for disposal of this revision petition, can be summarised as follows: Originally, the Federal Bank filed OS No. 52/1987 against one Raman, the father of the decree-holder, the judgment-debtors 2 to 5 as well as husband of the 1st judgment-debtor, for realisation of the loan amount availed by him. Pending the suit, Sri Raman died and the decree-holder and the judgment-debtors herein got impleaded in the said suit as legal representatives. The suit was decreed and in execution, the Bank sought for attachment and sale of the properties belonging to Raman. The decree-holder herein has come forward and discharged the decretal liability, to the Bank for all the legal heirs and got the properties released. Thereafter, the decree-holder filed this suit for realising the due contribution of the judgment-debtors herein towards Raman's liability, which had been discharged by him alone. The suit was decreed allowing the decree-holder to realise Rs. 4,19,190/- plus 6% interest from the assets of the deceased Raman, in the possession of the judgment-debtors. It is that decree which the decree-holder seeks, to be executed, by the sale of four items of properties in EP No. 11/2003 and another one item in EP No. 23/2004, alleging them to be the properties of Raman and now in the possession of the judgment-debtors.

(3.) The judgment-debtors resisted the Execution Petitions contending as follows: There is no personal decree against them. The decree is for realising the amount from the properties left by the deceased Raman and possessed by them; but they, along with the decree-holder, had already sold out the scheduled properties for discharging certain liabilities left by the deceased Raman and that the scheduled properties sought to be proceeded against are not at all in their possession and the properties are in the possession of third parties.