DEBABRATA BANERJEE Vs. BANK OF BIHAR LTD

JUDGEMENT

(1.) This is an appeal on behalf of the judgment-debtor.

(2.) The respondent is the Bank of Bihar, Ltd., Patna. On 24tb February 1940, the bank obtained a mortgage decree for Rs. 8000. In the course of the execution proceedings the judgment debtor put in an application under Section 18, Bihar Money-lenders Act, and Section 47, Civil P.C., for settlement of the value of the property for sale. The opposite party, that is the bank, contended that the Moneylenders Act has no application to banking transactions and for this the bank relied upon the case in Sagarmal Marwari V/s. Bhuthu Ram A.I.R. 1941 Pat. 99.

(3.) The lower Court was of opinion that, although the case was under Section 8, Money-lenders Act, the principle laid down therein would cover the present case also and, therefore, it held that the Money-lenders Act had no application to the present case. But under Order 21, Rule 66, the Court proceeded to settle the value of the properties advertised for sale and ordered that the valuation fixed by both parties be put down in the sale proclamation. It is against this order that the appellant has moved this Court. Mr. S.N. Banerji, appearing on behalf of the appellant, has drawn our attention to Section 3, Bihar Money-lenders Act, and a notification in the Bihar Gazette published under that section. Section 3, Bihar Money-lenders Act, runs as follows: The Provincial Government may, by notification, for any special reason or reasons to be stated in such notification, exempt any money-lender or class of money-lenders or any class of loans in the whole or any part of the Province of Bihar from the operation of all or any of the provisions of this Act.