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PICIC versus ALLIED TEXTILE MILLS, LTD .


The decisive distribution of the assets of persons entitled to the execution of the provisions of Rule 738 and 51 of the Code of Civil Rules, 1908, were the necessary conditions for the application of Section 73, CPC: OVL, the assets shall be with the court, secondly, the rate. Applicability must be met before qualified distributors. Third, the receipt of such assets by the court and the claimant for the distribution of the payable credit and the associated creditors, must have the order for payment of the money. Defendants filed petitions for a substantial distribution of the assets of the judgment debtor at a time when the assets were already accrued. One of the basic conditions laid down by the court's deliberations by CP (1), the CPC was not satisfied; the pleas of the interveners which were outside the jurisdiction of section 73 (1) cannot be considered and Defendants have no place to claim. Decent Distribution in respect of Asset Decree Assets If the decedent deemed his machinery and other equipment to be made to the Regulators, the decree holder will place a charge on such goods, claiming the holder of the mortgage and The letter is protected due to the letters, priority is required over the interrupters, therefore, it may not be allowed under the circumstances.

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