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Report No. 168

16. Amendment of section 25.-

(a) After sub-section (1), the following sub-section shall be inserted, namely:-

"(1A) The official Receiver or liquidator, as the case may be, shall, subject to the orders of the Insolvency Court or the Court, if any, inform the owner, as soon as he takes possession of the hired goods, of the fact of his taking possession of the hired goods and shall also intimate the owner whether he proposes to continue to make the payments in accordance with the hire-purchase agreement. On receiving such intimation, it shall be open to the owner to approach the Insolvency Court or the Court, as the case may be, for appropriate directions."

(b) In sub-section (2), the following proviso shall be inserted at the end, namely:-

"Provided that before any such permission is granted, the Insolvency Court or, as the case may be, the court in which the winding up proceedings are pending shall grant the owner an opportunity of being heard in the matter."



The Hire-Purchase Act, 1972 Back




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