Judgement

Appeal (No. 61 of 1942) from a judgment and decree of the Chief Court (December 1, 1939) which affirmed an order of the District Judge of Unao (August 6, 1936) who had decided that the appellant bank was not entitled to share rateably under s. 73 of the Code of Civil Procedure in a distribution of the assets held by the court of a judgment-debtor, one Shanti Lal.

The following facts are taken from the judgment of the Judicial Committee The

points involved in this appeal turned on the true construction of s. 73, sub-s. I, of the Code of Civil Procedure (V. of 1908) which is in the following terms— "Where assets are held by a, court and more persons than one " have, before the receipt of such assets, made application to " the court for the execution of decrees for the payment of " money passed against the same judgment-debtor and have " not obtained satisfaction thereof, the assets, after deducting " the costs of realisation, shall be rateably distributed among " all such persons." It was common ground that at all material times there was held by the District Court, Unao, assets of one Shanti Lal amounting to a sum of Rs. 49,166 or thereabouts, and that before the receipt o