PRESIDENCY-TOWNS INSOLVENCY ACT, 1909

PRESIDENCY-TOWNS INSOLVENCY ACT, 1909

S.1 Short title and commencement

S.2 Definitions

S.3 Courts having jurisdiction in insolvency

S.4 Jurisdiction to be exercised by a single Judge

S.5 Exercise of jurisdiction in chambers

S.6 Delegation of powers to officers to officers of Court

S.7 Power of Court to decide all questions arising in insolvency

S.8 Appeals Appeals in insolvency

S.9 Acts of insolvency Acts of insolvency

S.10 Power to adjudicate

S.11 Restrictions on jurisdiction

S.12 Conditions on which creditor may petition

S.13 Proceedings and order on creditors petition

S.14 Conditions on which debtor may petition

S.15 Proceedings and order on debtors petition

S.16 Discretionary powers as to appointment of inter in receiver

S.17 Effect of order of adjudication

S.18 Stay of proceedings

S.18(a) Control over insolvency proceedings in subordinate Courts

S.19 Power to appoint special manager

S.20 Advertisement of order of adjudication

S.21 Power for Court to annul adjudication in certain cases

S.22 Concurrent proceedings in Courts in India

S.23 Proceedings on annulment

S.24 Insolvents schedule

S.25 Protection order

S.26 Meeting of creditors

S.27 Public examination of the insolvent

S.28 Submission of proposal and acceptance by creditors

S.29 Approval of proposal by Court

S.30 Order on approval

S.31 Power to re-adjudge debtor insolvent

S.32 Limitation of effect of composition or scheme

S.33 Duties of insolvent as to discovery and realization of property

S.34 Arrest of insolvent

S.35 Redirection of letters

S.36 Discovery of Insolvents property

S.37 Power to issue commissions

S.38 Discharge of insolvent

S.39 Cases in which the Court must refuse an absolute discharge

S.40 Hearing of application for discharge

S.41 Power to annul adjudication on failure to apply for discharge

S.42 Renewal of application and variation of terms of order

S.43 Duty of discharged insolvent to assist in realization of property

S.44 Fraudulent settlements

S.45 Effect of order of discharge

S.46 Debts provable in insolvency

S.47 Mutual dealings and set-off

S.48 Rules as to proof of debts

S.49 Priority of debts

S.50 Rent due before adjudication

S.51 Relation of assignees title

S.52 Description of insolvents property divisible amongst creditors

S.53 Restriction of rights of creditor under execution

S.54 Duties of Court executing decree as to property taken in execution

S.55 Avoidance of voluntary transfer

S.56 Avoidance of preference in certain cases

S.57 Protection of bona fide transactions

S.58 Possession of property by official assignee

S.59 Seizure of property of insolvent

S.60 Appropriation of portion of pay or other income to creditors

S.61 Vesting and transfer of property

S.62 Disclaimer of onerous property

S.63 Disclaimer of leaseholds

S.64 Power to call on official assignee to disclaim

S.65 Power for Court to rescind contract

S.66 Persons injured by disclaimer may prove

S.67 Duty and powers of official assignee as to realization

S.69 Declaration and distribution of dividends

S.70 Joint and separate properties

S.71 Calculation of dividends

S.72 Right of creditor who has not proved debt before declaration of a dividend

S.73 Final dividend

S.74 No suit for dividend

S.75 Power to allow insolvent to manage property, and allowance to insolvent for maintenance or service

S.76 Right of insolvent so surplus

S.77 Appointment and removal of official assignees of insolvents estate

S.78 Power to administer oath

S.79 Duties as regards the insolvents conduct

S.80 Duty to furnish list of creditors

S.81 Remuneration

S.82 Misfeasance

S.83 Name under which to sue or be sued

S.84 Office vacated by insolvency

S.85 Discretionary powers and control thereof

S.86 Appeal to Court

S.87 Control of Court

S.88 Committee of inspection

S.89 Control of committee of inspection over official assignee

S.90 Power of the Court

S.91 Consolidation of petitions

S.92 Power to change carriage of petition

S.93 Continuance of proceedings on death of debtor

S.94 Power to stay proceedings

S.95 Power to present petition against a partner

S.96 Power to dismiss petition against some respondents only

S.97 Separate insolvency petitions against partners

S.98 Suits by official assignee and insolvents partners

S.99 Proceedings in partnership name

S.100 Warrants of Insolvency Courts

S.101 Limitation of appeals

S.101(a) Exclusion of time in computation of period of limitation in certain cases

S.102 Undischarged insolvent obtaining credit

S.103 Punishment of insolvent for certain offences

S.103(a) Disqualifications of insolvent

S.104 Procedure on charge under section 103

S.105 Criminal liability after discharge or composition

S.106 Summary administration in small cases

S.107 Exemption of corporation, etc., from insolvency proceedings

S.108 Administration in insolvency of estate of person dying insolvent

S.109 Vesting of estate and mode of administration

S.110 Payments or transfer by legal representatives

S.111 Saving of jurisdiction of Administrator-General

S.112 Rules

S.113 Sanction to rules

S.114 Publication of Rules

S.115 Exemption from duty of transfers, etc., under this Act

S.116 The Gazette to be evidence

S.117 Swearing of affidavits

S.118 Formal defect not to invalidate proceedings

S.119 Application of Trustee Act to insolvency of trustee

S.120 Certain provisions to bind the Government

S.121 Savings for existing rights of audience

S.122 Lapse and credit to Government of unclaimed dividends

S.123 Claims to monies credited to Government under section 122

S.124 Access to insolvents book

S.125 Fees and percentages

S.126 Courts to be auxiliary to each other

S.127 Saving

Sch.I MEETINGS OF CREDITORS

Sch.2 PROOF OF DEBTS

Sch.3 THIRD SCHEDULE

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