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 60(2)] [Section 60] [Entire Act]

State of Madhya Bharat - Subsection

Section 60(2)(a) in The Madhya Bharat Agricultural Debtor's Relief Act, 1956

(a)he shall, in the first instance, apply the sum realised from the sale of any portion of the movable property to the payment of any amount payable under the agreement on account of a debt which is secured by mortgage, lien or charge on such property in order of priority determined in accordance with the provisions of the Transfer of Property Act, 1882 (IV of 1882) and, if the said sum is insufficient to meet such payments the amount which have remained unpaid shall rank equally with unsecured debts;