V. RAMKUMAR, J.: - In this appeal filed under Sec.384 of the Indian Succession Act, 1925 the petitioner who is the sole legal heir and successor of deceased P. K. Hymavathy, challenges the order dated 14 - 10 - 2005 passed by the Subordinate Judge, Ernakulam in Succession O.P.20/05. The said original petition was filed under Sees.371 and 372 of the Indian Succession Act praying for a succession certificate in respect of certain bank deposits totalling to Rs.1,95,695.73 and in respect of 6 cents oflanded property with a building thereon.

Even though the Court below as per the impugned order held that the appellant is the sole legal heir of the said Hymavathy who died intestate on 29 - 1 - 2004 and allowed the original petition granting a succession certificate in respect of the bank deposits which were detailed in Schedule I of the Original Petition, that Court disallowed relief in respect of the immovable property described in II schedule to the said original petition. It is aggrieved by that part of the impugned order which has declined to grant a succession certificate in respect of the immovable property that the appellant has preferred this appeal.

2. We heard Adv. Sri. P. K. Ibrahim, the learned counsel appearing for the appellant. Assailing the impugned order the learned counsel for the appellant submitted that Secs.30 and 192 of the Indian Succession Act will indicate that a succession certificate can be granted in respect of immovable properties as well.

3. We are afraid that we find ourselves unable to agree with the above submissions. The fact that the appellant is the sole legal heir and successor of P. K. Hymavathi who died intestate on 29 - 1 - 2004 is beyond the pale of controversy. Ext.A2 is the death certificate pertaining to Hymavathi. Her husband Karunakaran had pre - deceased her as evidenced by Ext.A1 death certificate. Part X of the Indian Succession Act, 1925 (hereinafter referred to as "the Act" for short) starting from Sections 370 to 390, deals with succession certificate. Sub - section 1 of Section 370 reads as follows:

"370 : Restriction on grant of certificates under this Part: (1) A succession certificate (hereinafter in this Part referred to as a certificate) shall not be granted under this Part with respect to any debt or security to which a right is required by Section 212 or Section 213 to be established by letters of administration or probate:

Provided that nothing contained in this section shall be deemed to prevent the grant of a certificate to any person claiming to be entitled to the effects of a deceased Indian Christian, or to any part thereof, with respect to any debt or security, by reason that a right thereto can be established by letters of administration under this Act".

4. A reading of Secs.70 and 72 of the Act, particularly, clause (f) of sub - section (1) of Sec.372 of the Act, will show that a succession certificate can be applied for only in respect of debts and securities. The expression "Debt" has not been defined under the Act. The said expression has not been defined under the General Clauses Act as well.

If so, one has to go by the ordinary meaning of the said expression. A debt means any pecuniary liability whether payable in praesent or in future to another in return for money, services, goods or any other obligation. A debt is also property in the form of a chose in action and is heritable and assignable as understood in law.

In the case of securities sub - section 2 of Sec.70 of the Act enumerates the various securities envisaged by the section. They are as under:

"(a) any promissory note, debenture, stock or other security of the Central Government or of a State Government;

(b) any bond, debenture, or annuity charged by Act of Parliament (of the United Kingdom) on the revenues of India;

(c) any stock or debenture of, or share in, a company or other incorporated institution:

(d) any debenture or other security for money issued by, or on behalf of, a local au

Click Here to Read the rest of this document