Section 15 in The M.P. Anusuchit Jati Tatha Anusuchit Jan Jati (Rinisahayata) Adhiniyam, 1967
15. Preparation of a scheme of repayment and transfer of debtor's property.
(1)When the amount due has been determined under Section 14, the Debt Relief Court shall, after taking into account liability of the debtor in respect of the claims referred to in Section 6, prepare a scheme of repayment of the debtor's debt.(2)If the debtor has transferable property which he is willing to transfer to enable him to repay the whole or any part of sub-section (3), the Debt Relief Court may sanction such transfer on such conditions as it may think necessary to impose in order to safeguard the rights of the creditor including those to whom any liability under Section 6 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 sufficient to safeguard the interest of the secured creditor :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 (V of 1908).(3)No transfer shall be sanctioned-(i)of land belonging to a debtor in favour of a person who is not a member of the Scheduled Tribe;(ii)in respect of such personal property of the debtor as is exempt from attachment under Section 60 of the Code of Civil Procedure, 1908 (V 1908); and(iii)in respect of standing crops.(4)If after the transfer of property, if any, under sub-section (2), the debt as determined under Section 14, has not been satisfied, the Debt Relief Court shall fix instalments for the repayments of the remaining debt in such manner as may be prescribed and may in case of default order payment of simple interest at a rate not exceeding four per cent if the debt is unsecured and three per cent if it is secured :Provided that in fixing instalments the Debt Relief Court shall have regard to the extent of the transferable property in the possession of the debtor, and his paying capacity to be determined in accordance with the rules made in this behalf.
