Rule 50 of CPC : Rule 50: Execution of decree against firm.

Explanation using Example

Example 1:

Scenario: A textile firm named "Sharma Textiles" has taken a loan from a bank and failed to repay it. The bank files a lawsuit and obtains a decree against the firm for the repayment of the loan amount.

Application of Rule 50:

1. Against Partnership Property: The bank can execute the decree against any property owned by Sharma Textiles, such as their factory, machinery, or inventory.
2. Against Individual Partners:
   • Partner Appeared in Own Name: Mr. Sharma, one of the partners, appeared in court in his own name during the proceedings. The bank can execute the decree against Mr. Sharma's personal assets.
   • Admitted Partner: Mrs. Sharma admitted in the pleadings that she is a partner. The bank can execute the decree against her personal assets as well.
   • Served but Failed to Appear: Mr. Verma, another partner, was served with a summons but did not appear in court. The bank can execute the decree against Mr. Verma's personal assets.

Example 2:

Scenario: A construction firm named "Raj Builders" is sued by a client for breach of contract. The court passes a decree in favor of the client, ordering Raj Builders to pay damages.

Application of Rule 50:

1. Against Partnership Property: The client can execute the decree against any property owned by Raj Builders, such as their office building, construction equipment, or bank accounts.
2. Against Individual Partners:
   • Partner Appeared in Own Name: Mr. Raj, one of the partners, appeared in court in his own name. The client can execute the decree against Mr. Raj's personal assets.
   • Admitted Partner: Mr. Singh admitted in the pleadings that he is a partner. The client can execute the decree against Mr. Singh's personal assets.
   • Served but Failed to Appear: Mr. Kumar, another partner, was served with a summons b...

Login to access all pages and read more content.

To disable ads and read rest of the premium content, subscribe to KanoonGPT Pro.