Lawgist.Download the App Now!
Get our Android app for fast and offline Access.
On the publication of the notification under section 62, the following consequences shall ensue :- (1) All proceedings then pending in any civil court in respect to the debts and liabilities enforceable against the holding shall be stayed; and the operation of all processes, executions and attachments then in force for in respect of such debts and liabilities shall be suspended; (2) so long as the management continues no fresh proceedings, processes, executions or attachments shall be instituted in or issued, enforced or executed by any civil court in respect of such debts and liabilities; (3) so long as the management continues the holder of the holding shall be incompetent- (a) to enter into any contract involving the holding in pecuniary liability, (b) to mortgage, charge, lease or alienate the property under management or any part thereof, or (c) to grant valid receipts for the rents and profits arising or accruing therefrom: Provided that nothing contained in this section shall be deemed to preclude the Manager from letting and the holder from taking the whole or a part of such holding on such terms consistent with this Act as may be agreed upon between the parties; (4) so long as the management continues, no person other than the Manager shall be competent to mortgage, charge, lease or alienate such holding or any part thereof.
<span style="margin-left:15px;"></span>On the publication of the notification under section 62, the following consequences shall ensue :-<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>1</i>) All proceedings then pending in any civil court in respect to the debts and liabilities enforceable against the holding shall be stayed; and the operation of all processes, executions and attachments then in force for in respect of such debts and liabilities shall be suspended;<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>2</i>) so long as the management continues no fresh proceedings, processes, executions or attachments shall be instituted in or issued, enforced or executed by any civil court in respect of such debts and liabilities;<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>3</i>) so long as the management continues the holder of the holding shall be incompetent-<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span><span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>a</i>) to enter into any contract involving the holding in pecuniary liability,<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span><span style="margin-left:15px;"></span><span style="margin-left:15px;"></span><i>(b)</i> to mortgage, charge, lease or alienate the property under management or any part thereof, or<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span><span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>c</i>) to grant valid receipts for the rents and profits arising or accruing therefrom:<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>Provided that nothing contained in this section shall be deemed to preclude the Manager from letting and the holder from taking the whole or a part of such holding on such terms consistent with this Act as may be agreed upon between the parties;<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>4</i>) so long as the management continues, no person other than the Manager shall be competent to mortgage, charge, lease or alienate such holding or any part thereof.<br>