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We would first consider the question as to the nature of the trust deed executed by the settlors. It is not disputed that the trust deed was a registered instrument and came into existence three years before the actual assessments were made in favour of the joint Hindu family. Furthermore it is clearly stipulated in the trust deed that the object of the trust was to discharge the debts of the previous creditors of the settlors who had obtained decrees from the Courts. The names of those creditors are mentioned in Schedule 'A' arid there is no material before us to show that the creditors mentioned in Schedule 'A' are fictitious persons. It is true that in the cow of the trust deed printed in the paper book the names of the creditors are not mentioned but from the certified copy of the original trust deed it appears that the names are there which constitute of the following persons:

1. Narendrakumar Manoharlal & Co.
2. Devraj Dhanumal.
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3. Dhupaji Phoolchand.
4. Bhubutmal Chandumal.
5. Bhubutmal Bhoormal.
6. Kesarmal Mancharlal.
7. Taraohand Santilal.
8. Manrupji Nathumall.
9. Pokhraj Kantilal.
10. Pratapchand Kundanmal.
11. Ambapuram Bachu Pedda Subbiah & Sons.
12. Meda Krishnayya.
13. T. Nagalakshmidevamma Minor by guardian husband T. Sanjeeva Rao.

It is well settled that it is open to the settlors to create a trust for discharging the debts of their creditors. Such an object cannot be said to be unlawful. Section 4 of the Indian Trusts Act, 1882, runs thus:

(1) that at the time when the trust was executed no assessment order against the joint-Hindu family which was managed by one of the executants of the trust had been passed. Thus there was no real debt due from one of the executants of the trust at the time when the trust was executed;
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(2) that the trust did not have for its object any unlawful purpose;
(3) that the names of the creditors were clearly mention ed in Schedule 'A' of the trust as also the properties some of which had already been sold to liquidate debts of the settlors; (4) that under the trust the executants did not reserve any advantage or benefit for themselves; and (5) there is no material in the present case to show that the creditors mentioned in Schedule 'A' had obtained collusive decrees or that they were aware of the - debts owed by one of the executants to the Sales Tax Department before the execution of the trust deed.

In the special and peculiar facts of the present case which have been catalogued above, in our opinion, this is not a fit case In which the sales tax authorities can be allowed to hold that the deed of trust executed by the settlors was hit by s. 53 of the Transfer of Property Act. It may be noted that under s. 53 of the Transfer of Property Act if a transfer is made with intent to defeat or delay the creditors it is not void but only voidable. If the transfer is voidable, then the ' sales tax authorities cannot ignore or disregard it but have to get it set aside through a properly constituted suit after impleading necessary parties and praying for the desired relief. In Chutterput Singh & ors. v. Maharaj Bahadoor and others,(2) the Privy Council observed as follows: