Section 13B in The (Central Provinces and Berar) Debt Conciliation Act, 1933
13B. Application of sale proceeds in case of sale of property on account of unsecured debt. - Where any moveable or immovable property is sold in pursuance of sub-section (1) of Section 13 for the recovery of any amount payable under the terms of an agreement on account of any unsecured debt, the sale-proceeds thereof shall be distributed as follows :
(a)in the first instance in payment of any amounts for which application for recovery has been made inclusive of costs of the proceedings;(b)secondly, rateably amongst the other unsecured creditors, towards any amounts that have fallen due;(c)if there be any surplus after full payment has been made under clause (b) it shall be applied rateably towards the payment of the remaining amounts payable to unsecured creditors under the agreement;(d)if there be a surplus yet remaining after the payments have been made under clause (c), it shall be paid to the debtor.
