Section 14(2) in The Orissa (Scheduled Areas) Debt Relief Regulation, 1967
(2)If the debtor has transferable property which he is willing to transfer to enable him to repay the whole or any part of his debt, the Debt Relief Court may, subject to the provisions of Sub-section (3), sanction such transfer on such conditions as it may think necessary to impose in order to safeguard the rights of the creditors including those to whom any amount in respect of claims referred to in Section 4 is due and may grant such reasonable time as is necessary for the debtor to transfer such property :Provided that when there is any mortgage, lien or charge upon the property, such sanction shall only be given upon terms which will ensure that such mortgage, lien or charge shall subsist to such extent as is sufficient to safeguard the interest of the mortgagee or of the holder of the lien or charge :Provided further that when a transfer has been agreed to before the Debt Relief Court by the parties to the proceedings, and either party fails to complete the transaction within a period of sixty days, the Court may take action, as far as may be, under Order XXI, Rule 32 of the Code of Civil Procedure, 1908 (5 of 1908).
