PROVINCIAL INSOLVENCY ACT 1920 PDF

Provincial Insolvency Act, 2. The forms annexed to these rules (printed at the Adaptation of end of this Chapter), with such variations as crcumpres stances . Insolvency Act, and the Provincial Insolvency Act, to add a new act of insolvency, namely, that a debtor has not complied with the insolvency Section. Find legal provisions governing Provincial Insolvency Act, on Hello Counsel.

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Under section 5 of the Act the provisions of the Civil Procedure Code are to be applied subject to the provisions of the Act. The Official Receiver TM to find other cases containing similar facts and legal issues. Provided that nothing in this section insolbency be deemed to authorise the Court to remove from the possession or custody of property any person whom the insolvent has not a present right so to remove.

Vakacharla Sumitra And Others v. Nor can they be transferred to the Company Court.

THE PROVINCIAL INSOLVENCY ACT, 1920 (V OF 1920)

That principle is in Section 10 of the Act and is thus: Section 4 of the Provincial Insolvency Act. Power of Court to decide all questions arising in insolvency. Whereas it is expedient to consolidate and amend the law relating to insolvency as administered by Courts having jurisdiction outside the Presidency-towns it is hereby enacted as follows:.

Provincial Insolvency Act makes no difference for the purpose of the application of Article The representations were endorsed to police for investigation.

Audible Download Audio Books. Vakacherla Lakshminarayanarao And Others TM to find other cases containing similar facts and legal issues. Provincial Insolvency Act 5 of Power to annual adjudication of insolvency. The statements shown as allegations insolvejcy to prima facie evidence against them, are very bald and vague statements on the basis of which no case could be made out.

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In January,the insolvent, who had become aware of appellant’s petition, requested the Official Receiver to extend the period Decision that a transfer of property is a preference in favour of a creditor.

This section is similar to Section 4 1 of the Provincial Insolvency Act, except for the fact Appellate Tribunal For Atc Property The debtor company filed an appeal before the appellate Tribunal and there was no stay since the company defaulted in deposit of the money directed to be deposited. Would you like to tell us about a lower price?

The Provincial Insolvency Act

Table of Contents Sections A More information. Avoidance of preference in certain cases. General rules for civil forfeiture proceedings 18 U. S Firm… Petitionersv.

Provincial Insolvency Act, Bare Act | Hello Counsel

Provided that no objection as to the place of presentment shall be allowed by any Court in the exercise of appellate or revisional jurisdiction unless such objection was taken in the Court by which the petition was heard at the earliest possible opportunity, and unless there has been a consequent failure of justice.

Section 9 2 provides that a debtor commits an act of No suit for dividend.

Actand that as regards Section 54, Prov. Provincial Insolvency Act V ofwhich is now in force. Kolakula Thomasu Reddi And Anr. Debts provable under the Act. A-8 under Sections 4 and 5 of the Provincial Insolvency Actpraying that it should be declared an Such Court shall not grant leave unless it is satisfied either that the debtor was prevented by any reasonable cause from presenting or prosecuting his application, as the case may be, or that the petition is founded on facts substantially different from those contained in the petition on which the order of adjudication was made.

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Provincial Insolvency Act of came into force, that S. Rehamath Jahan TM to find insolvenyc cases containing similar facts and legal issues. Respondents — Canara Bank contended that when a winding up Petition is pending in the Company Court, it is necessary provinckal the leave of the Company Court is obtained for obtaining a decree before the Tribunal or for execution before the Recovery Officer, that Sectionsand of the Act of applied even to proceedings under the Act ofthat leave is necessary under Section even if no winding up order is passed, that it is therefore necessary to stay the sale proceedings before the Recovery Officer or the distribution of sale proceeds, that prkvincial Company Court alone can sell the properties of the Company in the winding up proceedings, that the recovery proceedings must be stayed and then the proceedings must be transferred to the Company Court and thereafter, once the proceeds of sale come before the Company Court, the said Court alone will have to distribute the monies according to priorities as men-tioned in Sections 2 d,A and etc.

The argument is wholly misconceived.

Filter by Judge Name Beta. Allahabad High Court Brief facts are given as hereunder: