Can a judgment debtor transfer/assign/appoint a poa to meet the liabilities under a decree

Aseem Vaishya (Querist) 18 December 2012 This query is : Resolved
We were facing trial for a property under arbitration and conciliation act 1996 with an arbitrator (Ex- High Court Judge)appointed by High Court. After trial award is passed against us. Which we are going to challenge within 90 days for setting aside.

Now a third party wants to purchase our rights against the same property and ready to take all brunt of liability and assets.

my query to your learned council is :

Can a judgment debtor transfer/assign/appoint a POA to meet the liabilities under a decree and to manage assets ?

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adv. rajeev ( rajoo ) (Expert) 18 December 2012
If he purchases the property, he will be the party to the recovery proceedings.

Guest (Expert) 18 December 2012
Can you describe the language of the Arbitrator's award?

M V Gupta (Expert) 18 December 2012
Mere passing of an award by the arbitrators would not be a bar for ur dealing with the property. But while doing so u should reveal the details of the award passed against u and clear mention should be made in the sale deed. The purchaser would be purchasing the property subject to the out come of the HC proceedings in the arbitration case. Be sure that there is no prohibitory order barring u from dealing with the property.

Raj Kumar Makkad (Expert) 18 December 2012
I endorse the advice of Gupta g.

Aseem Vaishya (Querist) 19 December 2012
Thanks a ton Shri Rajoo, Shri Dhingra, Shri Gupta and Shri Makkad for your valuable advice.

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