Rule 49 of CPC : Rule 49: Attachment of partnership property.

Explanation using Example

Example 1:

Scenario: Ramesh, Suresh, and Mahesh are partners in a textile business. Ramesh has a personal debt and a court decree has been passed against him to pay ₹10 lakhs to his creditor, Mr. Sharma.

Application of Rule 49:

1. Attachment of Partnership Property: Mr. Sharma cannot directly attach or sell the textile business's property to recover his money because the decree is against Ramesh personally, not against the partnership or all partners.
2. Charging Ramesh's Interest: Mr. Sharma applies to the court to charge Ramesh's interest in the partnership. The court orders that Ramesh's share of the profits and his interest in the partnership property be used to pay the debt.
3. Appointment of Receiver: The court appoints a receiver to manage Ramesh's share of the profits and any other money due to him from the partnership.
4. Redemption by Other Partners: Suresh and Mahesh, the other partners, have the option to pay off Ramesh's debt to Mr. Sharma to redeem Ramesh's interest ...

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