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Report No. 86

8.12. Revised Section 7.-

ln the light of the above discussion, section 7 should be revised as under:-

"Section 7-Procedure to * followed in case of sales.-(1) Save as hereinbefore provided, when any property is directed to be sold under this Act, the following procedure shall, as far as practicable, be adopted, namely,

(a) if the property be sold under a decree or order of a High Court......in the exercise of its original jurisdiction, the procedure of such Court in its original civil jurisdiction for the sale of property by the Registrar;

(b) if the property be sold under a decree or order of ,any other Court, such procedure as the High Court may from time to time by rules prescribe in this behalf, and until such rules are made, the procedure prescribed in the Code of Civil Procedure, 1908 in respect of sales in execution of decrees.

(2) Notwithstanding anything contained in sub-section (1), the Court may, in a particular case, for reasons to be recorded, direct that only share-holders, or only share-holders and such other persons as the Court may specify, shall be entitled to bid at the sale of the property."



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