SWADESI BANK LTD Vs. M M DANIEL

JUDGEMENT

(1.) DECREE-holder-auction-purchaser has preferred this appeal against the lower court's order allowing the defendant's application for relief under Act XXXI of 1958. The decree-holder in this case is a Bank. In execution of the decree the debtor's property has been sold and purchased by the decree-holder himself. It was when the auction-purchaser attempted to get delivery of the property that the debtor filed his application under Act XXXI of 1958. At the time of argument it was conceded on behalf of the debtor that his application is one under clause (1)of S. 22. To get relief under that clause, he has to deposit in court one-half of the purchase money within a period of six months from the commencement of the Act. That period is now over and it is conceded on behalf of the debtor that he has not deposited one-half of the purchase money in court within the prescribed period of six months. For this reason alone his application under s. 22 (1) has to be dismissed. No other question has to be considered and decided in this case.

(2.) IN the result this appeal is allowed in the manner indicated above and in reversal of the order of the lower court, the defendant's application is dismissed. Appellant will get the costs of this appeal from the respondent.