INDIAN OVERSEAS BANK Vs. MAMBAKKARAN BALAKRISHNAN

JUDGEMENT

(1.) The decree-holder is the revision petitioner.

(2.) The property in dispute was got attached in execution of the decree on 2-7-1986. The second judgment-debtor there, upon raised an objection that since he ceased to be the owner in possession of the property by virtue of the gift granted by him (evidenced by Ext. A1) in the year 1984 the order of attachment is liable to be vacated. It is thus clear that at the date of attachment the second judgment-debtor had no manner of interest in or was possessed of the property attached.

(3.) The second judgment-debtor has further stated in his counter that he has no other property and hence he has no means to pay the decree debt. That means the gift consists of the judgment debtor's (donor) whole property. Under such circumstances, the donee under the gift will be a universal donee within the meaning of section 128 of The Transfer of Property Act'. This section provides that subject to the provisions of section 127, where a gift consists of the donor's whole property, the donee is personally liable for all the debts due by and liabilities of the donor at the time of the gift to the extent of the property comprised therein. The property in dispute therefore is liable to be attached and sold for realisation of the decree amount.