raman (private) 15 September 2012
Suppose someone loses a case for recovery of money and has to return let us say Rs. 10 lac, but the person does not have any money or asset. Only his wife/ husband has some asset. What happens in that case?
Can that asset be used to settle the debt?
If not what is the punishment to such a person who has to return the money?
Anish Thakur 7018812737 (advocate) 15 September 2012
if the person haveno property in his name then his share from the property will attched for recovery,in case if any person has made gaurantor then he is liable to pay back the money .
in case he have nothing and no gurantor is made he will be put behind the bars.
Adv.R.P.Chugh (Advocate/Legal Consultant (rpchughadvocatesupremecourt@hotmail.com)) 15 September 2012
Only personal property/or interest in ancestral property can be attached and sold to satisfy the decree in execution. If the default in payment is wilful then he can be sent to civil prison as well, however at the expense of the decree holder and only for a maximum of 3 months.
raman (private) 15 September 2012
Suppose the person does not have any assets/ guarantor. The person spends/ does not spend time in prison.
But what happens to the money to be recovered. Does it remain outstanding in the name of the person to be settled against future acquisition of assets/ money.
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