Execution of Multiple Decrees Against a Property: Rateable Distribution Among Creditors
When a Plaint Schedule Property is attached and sold in execution of a decree in which multiple decree-holders have a stake, and the sale proceeds are insufficient to satisfy the total debt of all creditors combined, Section 73 of the Code of Civil Procedure, 1908 (hereinafter referred to as "the CPC") governs the manner in which such proceeds are to be distributed among the various decree-holders. The Section ensures equitable and proportionate distribution of limited proceeds available among similarly-placed creditors.