1914 Supreme(Mad) 430

IN THE HIGH COURT OF MARAS
The Chartered Bank Of India,
Versus
K.P. Velliappa Chetty And Ors.
Decided On : 26 October, 1914

Family property of Nattukottai Chetties should be treated as trade assets, and no distinction should be made between the family property and the trade assets.

Headnote:

Code of Civil Procedure - Rule 50 - Family Property and Trade Assets - The court held that the family property of Nattukottai Chetties should be treated as trade assets, and no distinction should be made between the family property and the trade assets.

Fact of the Case:

The Subordinate Judge's order was not supported as Rule 50 of the Order XXI of the Code of Civil Procedure had no application, and the family property in question was considered as trade assets.

Finding of the Court:

The Subordinate Judge's order was set aside, and the petition in the execution application was dismissed with costs in both the Lower Court and the current court, with the attachment order being revived. The execution proceedings were transferred to the file of the Temporary Subordinate Judge of Sivaganga.

Issues: Interpretation of Rule 50 of the Code of Civil Procedure, treatment of family property as trade assets, and the application of previous rulings in similar cases.

Ratio Decidendi: The court followed the rulings in Chidambaram Chetty v. Ramasami Chetty and held that the family property of Nattukottai Chetties should be treated as trade assets, with no distinction between the two.

Final Decision: The Subordinate Judge's order was set aside, and the petition in the execution application was dismissed with costs in both the Lower Court and the current court, with the attachment order being revived. The execution proceedings were transferred to the file of the Temporary Subordinate Judge of Sivaganga.