What is the object and scope of Section 73 of C.P.C.?
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Question: What is the object and scope of Section 73 of C.P.C.?Find the answer to the mains question only on Legal Bites. [What is the object and scope of Section 73 of C.P.C.?]AnswerSection 73 of the Code of Civil Procedure provides for the distribution of proceeds of execution sale ratably among the decree-holders. It provides a cheap and expeditious remedy for the execution of a money decree that is held against one single judgment debtor by more than one...
Question: What is the object and scope of Section 73 of C.P.C.?
Find the answer to the mains question only on Legal Bites. [What is the object and scope of Section 73 of C.P.C.?]
Answer
Section 73 of the Code of Civil Procedure provides for the distribution of proceeds of execution sale ratably among the decree-holders. It provides a cheap and expeditious remedy for the execution of a money decree that is held against one single judgment debtor by more than one decree-holders. It adjusts the claim of rival decree-holders without the necessity for separate proceedings. Its main object is to avoid multiciplity of execution proceedings and offer equitable distribution of assets. The sub-section (1) of sec.73 provides that in cases where the assets are held by a court and multiple individuals have made an application for the execution of a decree (that was passed against the same judgment-debtor) for the payment of money before the receipt of assets and they have not obtained its satisfaction. Then the assets will be ratably distributed after deducting the cost of realization
The object of Section 73 is to prevent unnecessary multiplicity of execution proceedings, to obviate, in a case where there are many decree holders, each competent to execute his decree by attachment and sale of a particular property, the necessity of each and every one separately attaching and separately selling that property.
Overall, the scope of Section 73 is to promote fairness and efficiency in the execution process, ensuring that the assets of a judgment-debtor are distributed equally among all the decree-holders with unsatisfied money decrees. This promotes the principle of equity and prevents any undue advantage or preference given to one creditor over others in the realization of their claims.
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