RM.NL. RAMASWAMI CHETTIAR AND OTHERS vs THE OFFICIAL RECEIVER, RAMANATHAPURAM Art MADURAI & OTHERS

The Supreme Court held that the assignment of a decree remains valid until annulled, and the Official Receiver can rely on prior execution applications made by the assignee to save limitation under Article 182 of the Limitation Act, 1908. The Court clarified that the adjudication of insolvency does not automatically annul the assignment, and the decree does not vest in the receiver until an annulment order is made under Section 54 of the Provincial Insolvency Act, 1920. Therefore, the execution application by the receiver was deemed timely and competent.