Legal Document View

Unlock Advanced Research with PRISMAI

Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Section 13(2)] [Section 13] [Entire Act]

State of Assam - Subsection

Section 13(2)(a) in The Assam Debt Conciliation Act, 1936

(a)he shall, in the first instance, apply the sum realised from the sale of any portion of the immovable property referred to in Section 12 (4) to the payment of any amount payable under the agreement on account of-(i) rent in respect of the property sold; (ii) any debt which is secured by a mortgage, lien or charge on such property in order of priority determined in accordance with the provisions of the Transfer of Property Act, 1882. and, if the said sum is insufficient to meet such payments, the amounts which have remained unpaid shall rank equally with unsecured debt;