Presidency-Towns Insolvency Act, 1909

The Presidency-Towns Insolvency Act, 1909

प्रेसिडेंसी नगर दिवाला अधिनियम,1909

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Act ID:	190903
Act Number:	03
Enactment Date:	1909-03-12
Act Year:	1909
Short Title:	The Presidency-Towns Insolvency Act, 1909
Hindi Title:	प्रेसिडेंसी नगर दिवाला अधिनियम,1909
Long Title:	An Act to amend the Law of Insolvency in the Presidency towns ***
Ministry:	Ministry of Corporate Affairs
Enforcement Date:	12-03-1909

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Section 1. Short title and commencement.
Section 2. Definitions.
Section 3. Courts having jurisdiction in insolvency.
Section 4. Jurisdiction to be exercised by a single Judge.
Section 5. Exercise of jurisdiction in chambers.
Section 6. Delegation of powers to officers to officers of Court.
Section 7. Power of Court to decide all questions arising in insolvency.
Section 8. Appeals in insolvency.
Section 9. Acts of insolvency .
Section 10. Power to adjudicate.
Section 11. Restrictions on jurisdiction.
Section 12. Conditions on which creditor may petition.
Section 13. Proceedings and order on creditors petition.
Section 14. Conditions on which debtor may petition.
Section 15. Proceedings and order on debtors petition.
Section 16. Discretionary powers as to appointment of inter in receiver.
Section 17. Effect of order of adjudication.
Section 18. Stay of proceedings.
Section 18A. Control over insolvency proceedings in subordinate Courts.
Section 19. Power to appoint special manager.
Section 20. Advertisement of order of adjudication.
Section 21. Power for Court to annul adjudication in certain cases.
Section 22. Concurrent proceedings in Courts in India.
Section 23. Proceedings on annulment.
Section 24. Insolvents schedule.
Section 25. Protection order.
Section 26. Meeting of creditors.
Section 27. Public examination of the insolvent.
Section 28. Submission of proposal and acceptance by creditors.
Section 29. Approval of proposal by Court.
Section 30. Order on approval.
Section 31. Power to re-adjudge debtor insolvent.
Section 32. Limitation of effect of composition or scheme.
Section 33. Duties of insolvent as to discovery and realization of property.
Section 34. Arrest of insolvent.
Section 35. Redirection of letters.
Section 36. Discovery of Insolvents property.
Section 37. Power to issue commissions.
Section 38. Discharge of insolvent.
Section 39. Cases in which the Court must refuse an absolute discharge.
Section 40. Hearing of application for discharge.
Section 41. Power to annul adjudication on failure to apply for discharge.
Section 42. Renewal of application and variation of terms of order.
Section 43. Duty of discharged insolvent to assist in realization of property.
Section 44. Fraudulent settlements.
Section 45. Effect of order of discharge.
Section 46. Debts provable in insolvency.
Section 47. Mutual dealings and set-off.
Section 48. Rules to proof of debts.
Section 49. Priority of debts.
Section 50. Rent due before adjudication.
Section 51. Relation of assignees title.
Section 52. Description of insolvents property divisible amongst creditors.
Section 53. Restriction of rights of creditor under execution.
Section 54. Avoidance of voluntary transfer.
Section 55. Duties of Court executing decree as to property taken in execution.
Section 56. Avoidance of preference in certain cases.
Section 57. Protection of bona fide transactions.
Section 58. Possession of property by official assignee.
Section 59. Seizure of property of insolvent.
Section 60. Appropriation of portion of pay or other income to creditors.
Section 61. Vesting and transfer of property.
Section 62. Disclaimer of onerous property.
Section 63. Disclaimer of leaseholds.
Section 64. Power to call on official assignee to disclaim.
Section 65. Power for Court to rescind contract.
Section 66. Power for Court to make vesting order in respect of disclaimed property.
Section 67. Persons injured by disclaimer may prove.
Section 68. Duty and powers of official assignee as to realization.
Section 69. Declaration and distribution of dividends.
Section 70. Joint and separate properties.
Section 71. Calculation of dividends.
Section 72. Right of creditor who has not proved debt before declaration of a dividend.
Section 73. Final dividend.
Section 74. No suit for dividend.
Section 75. Power to allow insolvent to manage property, and allowance to insolvent for maintenance or service.
Section 76. Right of insolvent so surplus.
Section 77. Appointment and removal of official assignees of insolvents estate.
Section 78. Power to administer oath.
Section 79. Duties as regards the insolvents conduct.
Section 80. Duty to furnish list of creditors.
Section 81. Remuneration.
Section 82. Misfeasance.
Section 83. Name under which to sue or be sued.
Section 84. Office vacated by insolvency.
Section 85. Discretionary powers and control thereof.
Section 86. Appeal to Court.
Section 87. Control of Court.
Section 88. Committee of inspection.
Section 89. Control of committee of inspection over official assignee.
Section 90. Power of the Court.
Section 91. Consolidation of petitions.
Section 92. Power to change carriage of petition.
Section 93. Continuance of proceedings on death of debtor.
Section 94. Power to stay proceedings.
Section 95. Power to present petition against a partner.
Section 96. Power to dismiss petition against some respondents only.
Section 97. Separate insolvency petitions against partners.
Section 98. Suits by official assignee and insolvents partners.
Section 99. Proceedings in partnership name.
Section 100. Warrants of Insolvency Courts.
Section 101. Limitation of appeals.
Section 101A. Exclusion of time in computation of period of limitation in certain cases.
Section 102. Undischarged insolvent obtaining credit.
Section 103. Punishment of insolvent for certain offences.
Section 103A. Disqualifications of insolvent.
Section 104. Procedure on charge under section 103.
Section 105. Criminal liability after discharge or composition.
Section 106. Summary administration in small cases.
Section 107. Exemption of corporation, etc., from insolvency proceedings.
Section 108. Administration in insolvency of estate of person dying insolvent.
Section 109. Vesting of estate and mode of administration.
Section 110. Payments or transfer by legal representatives.
Section 111. Saving of jurisdiction of Administrator-General.
Section 112. Rules.
Section 113. Sanction to rules.
Section 114. Publication of Rules.
Section 115. Exemption from duty of transfers, etc., under this Act.
Section 116. The Gazette to be evidence.
Section 117. Swearing of affidavits.
Section 118. Formal defect not to invalidate proceedings.
Section 119. Formal defect not to invalidate proceedings.
Section 120. Certain provisions to bind the Government.
Section 121. Certain provisions to bind the Government.
Section 122. Lapse and credit to Government of unclaimed dividends.
Section 123. Claims to monies credited to Government under section 122.
Section 124. Access to insolvents book.
Section 125. Fees and percentages.
Section 126. Courts to be auxiliary to each other.
Section 127. Saving.