- (1.) The sole question which arises for consideration in these appeals is whether on a correct interpretation of Section 103 of the A. P. Cooperative Societies Act, 1964, the appellant-Bank can seize and sell the tractor of the respondents for realisation of the amount of loan payable by them to the appellant.
(2.) Briefly stated, the facts in Civil arising from Writ Appeal No. 136 of 1982 are that two loans of about Rs 40,000. 00 and Rs 35,000. 00 were taken by the writ petitioners from the appellant-Bank. These loans were disbursed for the purpose of purchasing a tractor. Repayment of loan was to take place by payment in yearly instalments. There was default in the payment of the same and demands were raise. When demands having been raised and the amount due to the appellant-Bank was not paid, the tractor in question was seized and distrained. Thereupon a writ petition was filed before the High Court of Andhra Pradesh in which the writ petitioners had contended that the tractor was an agricultural implement and as such was exempt from attachment. The other writ petitions which were disposed of by the common judgment of the High Court also raised the same question.
(3.) The High Court by its impugned judgment came to the conclusion that on a correct interpretation of Section 103 read with Rule 52 (5) (o) of the A. P. Cooperative Societies Rules, tractors were agricultural implements of husbandry and, therefore, they could not be seized or sold by the appellant for the purpose of realisation of the amount due to it.;