In the present case, the decree was transferred by auction on 1st February, 1922, when the Company was not dissolved. It has been held in Afzal v. Ram Kumar Bhudra 12 C. 610 : 6 Ind. Dec. (N.S.) 415; Dagdu v. Vanji 24 B. 502 : 2 Bom. L.R. 414 : 12 Ind. Dec. (N.S.) 866 and Govindarajulu Naidu v. Ranga Rao 62 Ind. Cas. 255 : 40 M.L.J. 124 : 13 L.W. 97 : (1921) M.W.N. 98 : 29 M.L.T. 99 and we see no reason to depart from the view adopted by these decisions--that a decree is not an actionable claim within the meaning of the Transfer of Property Act and, therefore, an assignment of a decree need not be in writing. It follows that the assignment was valid and complete. But for purposes of execution under the Civil Procedure Code, Order XXI, Rule 16 requires the transfer to be in writing. This writing has since been given by the original transfer or after he has ceased to be liquidator. There is nothing in the Companies Act or in the decisions on it which prohibits him from doing so or which compels us to regard it as void seeing that the original transfer was effected by him at a time when he was liquidator. Whatever looseness or irregularity there may be in such a procedure neither the Company nor its share-holders, complain of it and we do not see how a person in the position of a judgment-debtor should be allowed to do so.1
Print Page
Madras High Court
Krishnaswami Naidu vs Karuppan Chettiar (Given Up) And ... on 30 November, 1927
Equivalent citations: 109 Ind Cas 563
Bench: Ramesam, Jackson
.jpg)
