Where Should You File an Application to Be Declared Insolvent in India?

2025 0 Supreme(Bom) 1495

This provision is only for the purpose of defining eligibility to file the petition and not for an automatic order by the Court to be declared as an insolvent. 12. ... for being declared as insolvent in 2019 and 2023. ... In my view, on a reading of Section 10 and the Explanation, the power to adjudicate a person as an insolvent cannot be read to be mandatory and the Court has the discretion in the peculiar facts of a particular case to refuse a person from being declared#HL_....

2024 0 Supreme(AP) 461

Several legal consequences ensue, once an individual is declared as insolvent. essential conditions for institution of the proceedings under the Act are that (a) the individual, sought to be declared as insolvent must be a debtor and that (b) the properties held by him are insufficient in value, to liquidate ... To put it differently, a creditor cannot institute proceedings under Section 9 of the Act, in the absence of any adjudication, as to the debts, or unequivocal admission thereof, by a person proposed to be #HL_STA....

2022 0 Supreme(Mad) 3987

The trial Court allowed the application filed by the petitioner, on the ground that the revision petitioner is having more than Rs.500/- as debt and declared him as insolvent. ... The trial Court considering the materials placed before it, found that the petitioner is having debts for more than Rs.500/- and declared him as insolvent. ... Hence, the petitioner filed the above petition under Section 10 of Provincial Insolvency Act,1920, to declare him as insolvent and to vest his propert....

In a petition to have a person declared insolvent it is not sufficient to state his name only, but his description and address should be given. ... The insolvent was adjudicated insolvent on the petition of one William Jenkins, who gives the vague address, Colombo. The appellant is a creditor, and he objected to the adjudication and moved that it be annulled. That application was refused, and he has appealed to this Court. ... One of several partners of a firm having petitioned to have a perso....

But it is specifically declared in section 89 that the last examination of the insolvent shall be the second public sitting of the Court; and this second public sitting was over long before this application was made. ... - This is an appeal against an order of the District Court of Colombo refusing an application made on behalf of the opposing-creditor in an insolvency case for permission to examine the insolvent on the occasion of his application for a certificate. ... The lear....

The insolvent did not appeal against that judgment, but on April 30, 1913, declared himself insolvent. The question is, whether the insolvent has not been guilty of an offence under sub-section (7) of section 151 of the Ordinance No. 7 of 1853. ... I should have thought that the specific point of time at which the offence is committed would have been the time when a frivolous and vexatious defence is placed on the file, and I find that there is considerable authority in our reports in Ceylon for t....

On 11th March, 1902, he declared himself insolvent, and his balance sheet shows liabilities amounting to Rs. 7,915.11, against assets valued at Rs. 2,800, viz., the stock in the boutique. ... Undoubtedly, however, in every case in which a trader has been declared insolvent under the provisions of section 124 the Judge has to see whether the insolvent has conformed to the Ordinance, and to consider his conduct as a trader before as well as after his insolvency. ... I further concur with him in holding ....

An application by a creditor under section 133 of the Insolvency Ordinance to revise an order allowing a certificate to an insolvent may be refused where the application has been unduly delayed and where the applicant has been guilty of a conspiracy of silence regarding facts within ... As a matter of first impression it strikes me that no provision is made in section 127 to move the Court to have the certificate declared void. An order allowing a certificate is final and conclusive until revised under section ....

The learned District Judge refused to allow this application on the ground that it was too late for him to prove a debt in view of the fact that a certificate in the 3rd class had been granted to the Insolvent. ... - This is an appeal by one Ibrahim Bai who, professing to be a creditor of the Insolvent in a sum of Rs. 1,560, sought to prove that debt in the course of an insolvency case. He made his application on April 4, 1941. ... Insolvency-Grant of certificate to insolvent-Right of a credito....

2024 0 Supreme(Mad) 584

as 'insolvent'. ... Therefore, the second respondent cannot be declared as 'insolvent'. The property(ies) sold by the second respondent to the other respondents, is not binding on their side. Therefore, the present CMSA is liable to be dismissed. 12. ... final order dated 28.02.2006 made in I.P.No.63 of 1999 on the file of the Second Additional Subordinate Court, Erode. ... Additional District Court, Erode, in reversing the order and final order dated 28.02.2006 made in I.P.No.63 of 1999 on the file of ....

2022 0 Supreme(Mad) 3264

However, the proviso to the above Rule would set out the circumstances in which this mandatory provision is relaxed regarding service of notice in respect of an application for execution made after 2 years have lapsed between the date of the decree and the application for execution. (a) Where the application is made within two years from the date of the last order against the party against whom the execution is filed. (b) Where an application is made against the legal representatives of a party to the decree or made for execution of a decree made under Section 44A or (c) Where an a....

2018 0 Supreme(Bom) 1260

On the next date, the insolvent shall remain present in Court and the advocate on record for the insolvent shall communicate this order to the insolvent and file an affidavit of compliance.

2017 0 Supreme(Mad) 2641

As indicated above, respondent No.1 had filed his application for being declared insolvent on 12.05.2006, based on which, he was declared insolvent on 06.06.2006. 9. In these circumstances, the moot question which arises is: whether the appellant could protect the subject transaction by claiming that he was a bona fide purchaser, who had no notice of presentation of an insolvency petition by respondent No.1?

2016 0 Supreme(Mad) 1622

In the cases on hand, admittedly, the petitioners are not convicted in any of the offence stated in clause 3.2.1(b). On a reading of the clause 3.2.1(b) any company controlled by a person convicted of an offence involving moral turpitude or money laundering/drug trafficking, terrorist activities or declared as insolvent or applied for being declared insolvent, are not eligible to apply. From clause 3.2.1(b), it is clear that only a person convicted of an offence involving moral turpitude or money laundering/drug trafficking, terrorist activities are not eligible to apply fo....

2015 0 Supreme(Bom) 1758

Thus it cannot be accepted that because clause 12.5 does not contain a non-obstante clause it cannot be read in isolation. Clause 12.4 provides for a situation where the party is declared insolvent, bankrupt or there is dissolution or winding up. Clause 12.3 envisages a situation where the parties are not agreeing to terminate the agreement on mutual terms and conditions in which the company shall be wound up and after paying all the liabilities the unrealized assets shall be distributed between the parties in the ratio of their respective share holding. It is thus difficul....