Provisions of Section 23-C cannot be held applicable.

Ramanujam, J.-The question that arises for our consideration in this case is whether the benefit of section 23-C of the Tamil Nadu Agriculturists’ Relief Act, 1938 introduced by the Amending Act VIII of 1973 could be availed of by a judgment-debtor whose property has been sold after 24th January, 1973, the date of coming into force of the said amending Act. This question has been referred to us by Mohan, J. in view of the divergent opinions now prevailing on the said question.

2. The respondents herein obtained a decree against the appellant herein in O.S. No. 703 of 1970 on the file of the District Munsif, Cuddalore and in execution of that decree applied for the sale of the judgment-debtor’s properties in E. P. No. 1187 of 1973. The appellant filed an application under section 20 of the Act IV of 1938 for stay of execution of the decree so as to enable him to apply under section 19 of the Act for scaling down the decree-debt. In that application stay of execution was ordered on 28th April, 1973. The appellant thereafter filed an application under section 19 on 28th June, 1973 in LA. No. 2437 of 1973. On the ground that the appellant had not filed an application under section 19 exactly within 60 days, the executing Court proceeded with the execution and the judgment-debtor’s properties were actually sold on 24th September, 1973 notwithstanding the pendency of the application under section 19. The sale has not, however been confirmed as yet. The appellant’s application under section 19 for scaling down the decree-debt, was disposed of on 15th October, 1973 and the decree-debt had in fact been scaled down. The appellant, thereafter filed E. A. No. 2692 of 1972 under section 23-C in E.P. No. 1187 of 1973 on 22nd October, 1973 to have the sale set aside, but the said application came to be dismissed on 21st December, 1973 on the ground that the sale having taken place after 24th January, 1973, the date of the coming into force of the Amending Act VIII of 1973, section 23-C cannot be invoked. An appeal therefrom was also dismissed by the Sub-Court, Cuddalore, following the decision in Seshayya v. Venkataramayya1. The matter was taken to this Court in C.M.S.A. No. 176 of 1974. Mohan, J., who heard the said appeal in the first instance, having regard to the conflict of judicial opinion on the scope and interpretation of section 23-C referred the case to a Full Bench.

3. Tamil Nadu Agriculturists’ Relief Act IV of 1938 was enacted in order to provide relief to indebted agriculturists in the State. The said Act has been amended from time to time and the latest amendment was by Act VIII of 1973 which came into force on 24th January, 1973. By virtue of the said amending Act all debts payable by the agriculturists as on 1st March, 1972 shall be scaled down in accordance with the provisions of Chapter II of the Principal Act as amended. Sections 7 and 8 provide for the scaling down of all debts payable by an agriculturist as on 1st March, 1972. Section 12 prescribes interest at 9 per cent for old loans incurred before 1st March, 1972 which had been scaled down and section 13 prescribes interest at the rate of 9 per cent, for the debts incurred after 1st March, 1972. Section 9-A deals with usufructuary mortgages. Chapter IV deals with procedure in regard to pending suits and execution petitions. Section 19 occurring in that Chapter provides for amendment of decrees passed prior to 1st March, 1972 by scaling down the decree debt. Section 20 enables the agriculturist debtors to apply for stay of the execution of the decrees until the Court which passed the decree has disposed of an application under Section 19. The proviso to section 20 says that if a judgment-debtor who had obtained stay of execution under that section does not apply under section 19 within sixty days, the decree can be executed as it stands. Then comes section 23 which is as follows:

“Where in execution of any decree any immovable property, in which an agriculturist had an i

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