Section 73 of CPC : Section 73: Proceeds Of Execution Sale To Be Rateably Distributed Among Decree-Holders
CPC
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Explanation using Example
Imagine a scenario where Mr. Sharma has defaulted on loans from three different creditors: Mr. A, Mr. B, and Mr. C. Each creditor has obtained a separate money decree against Mr. Sharma. Before Mr. Sharma's assets are seized by the court, Mr. A, Mr. B, and Mr. C have all applied for the execution of their decrees. The court then sells Mr. Sharma's property to recover the money.
According to Section 73 of the Code of Civil Procedure, 1908, the proceeds from the sale of Mr. Sharma's property, after deducting the costs of the sale, will be divided among Mr. A, Mr. B, and Mr. C proportionally to their decrees' amounts, since they all applied fo...
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