( 1 ) THIS revision is filed against the order of the 1st Additional District Munsif, guntur in E. P. No. ll 1 of 1991 in O. S. No. 407 of 1990 dated 21-10-1991, allowing the petition filed by the respondent-decree holder under Order 21 Rule 46 of the civil Procedure Code for attachment of the share capital of the Petitioner- judgment-debtor in a Co-operative Society.

( 2 ) THE brief facts are as follows:- The petitioner is working as a Guard in the state Bank of India. He is a member of the State Bank of India Employees Cooperative credit Society, Guntur. He invested Rs. 2,000/- towards his share capital in the society. The respondent is a money lender from whom the petitioner took loan. The interest payable is very high. The respondent filed a suit O. S. No. 407 of 1990 on the file of the District Munsif s Court, Guntur, against the petitioner and obtained a decree. In execution of the said decree, the respondent filed E. P. No. 111 of 1991 on the file of the Ist Additional District munsif Court, Guntur and sought for attachment of the petitioner s share capital invested in the S. B. I. Employees Co-operative Credit Society, Guntur.

( 3 ) THE petitioner contested the E. P. stating that his share capital lying in S. B. I. Employees Co-operative Credit Society, Guntur is not liable for attachment under Section 39 of the A. P. Co-operative Societies Act, 1964. The learned 1st. Additional District Munsif, Guntur rejected the said plea and ordered attachment of the share capital of the petitioner lying in the Co-operative society by the impugned order dated 21st October, 1991. Against the said order, the present revision is filed.

( 4 ) THE learned 1st Additional District Munsif while rejecting the plea of the petitioner held that since the petition viz. , E. P. No. lll of 1991 was filed under order 21, Rule 46 of the Civil Procedure Code, according to which, the share of the judgment-debtor can be attached. The learned District Munsif further held that under Section 60 of the Civil Procedure Code, the shares of the Judgment- debtor in a Corporation are liable to be attached and that there is no exemption provided in Section 60 of the Civil Procedure Code that the shares in a Cooperative society are not liable to be attached.

( 5 ) THE main contention of the learned counsel for the petitioner is that under section 39 of the A. P. Co-operative Societies Act, 1964 (hereinafter referred to as act ) the share or interest of a member in the capital of a society or of an employee shall not be liable to attachment or sale under any decree or order of a Court, in respect of any debt or liability incurred by such member. Therefore, in view of the special provision under Section 39 of the Act, the share capital is not liable to be attached. He also referred to Section 4 of the Civil Procedure code which says that in the absence of any specific provision to the contrary nothing in the Code shall be deemed to limit or otherwise affect any special or local law now in force. In view of Section 4 of the Civil Procedure Code, Section 39 of the Act, which is a special law/local law, shall prevail over Order 21, Rule 46 of the Civil Procedure Code and Section 60 of the Code. Therefore, it is argued thatnot with standing the fact that under Section 60 of the Civil Procedure code the share capital of a member in a Co-operative Society is not exempted, in view of Section 39 of the Act, which is a local law, read with Section 4 of the civil Procedure Code, the share capital of a member in a Co-operative Society is not liable to attachment. He also brought to my notice Section 2 (7) of the companies Act, 1956, defining "body corporate" or corporation . According to the said definition, body corporate or corporation includes a, company incorporated outside India but does not include - (a ). . . . . . . (b) a Co-operative society registered under any law relating to Co-operative Societies and (c ). . . . . Therefore, though under