NAGJI Vs. KASTOORCHAND

JUDGEMENT

(1.) THE only question involved in this revision -petition, is whether Court has jurisdiction under Section 17 of the Madhya Bharat Money Lenders Act to award installments in respect of a decree debt dated 10 -7 -1935.

(2.) A decree was passed in Civil Suit No. 41 of 1935 on the basis of an award on 10 -7 -1935 for Rs. 11,600/ -. As per terms of the decree the amount was liable to be paid at Rs. 400/ - per annum from Samvat Year 1993 to 2019. Part of the amount payable under the decree remained unpaid and on 30th September 1954 an application was submitted on behalf of the judgment debtors under Section 17 of the Madhya Bharat Money Lenders Act for award of installments. It was alleged in the petition that out of the total amount of Rs. 11,600/ - the petitioners had paid Rs. 6800/ - and the only amount that remained to be paid was Rs. 4800/ -. The petitioners stated that as a result of the payment actually made they are reduced to poverty and that they are no longer in a position to repay the remaining amount at the rate indicated in the decree. They therefore prayed for grant of installment of Rs. 100/ - per annum.

(3.) IT is clear from the wording of this section that a discretion is granted to the Court to award installments on the application of a judgment debtor only in respect of a loan. The term 'loan' is defined in Section 2 Clause (6) of the Act. According to this definition 'loan' means an advance, whether of money or in kind, at interest and shall include any transaction, which the Court finds to be in substance a loan, and also includes a pawn. To this definition there are certain exceptions which are not material for the present purpose. Having regard to this definition in the absence of any thing else, the present loan will be covered by the definition of the term 'loan'. But there is a specific Section which lays down to what loan the Act shall apply. This is Section 14 which runs as follows: