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Report No. 26

Index to Appendix I

Clause

Subject-matter

Chapter I

Preliminary

1

Short title, extent and commencement

2

Definitions

Chapter II

Acts of Insolvency

3

Act of insolvency

Chapter III

Insolvency Petitions

4

Petition of Insolvency

5

Conditions on which creditor may petition

6

Conditions on which debtor may petition

7

Contents of petition

8

Verification of petition

9

Appointment of interim receiver

10

Admission of petitions

11

Release of debtor

12

Interim proceedings against the debtor

13

Protection order before adjudication

14

Duties of debtors

15

Procedure at the hearing of the petition

Chapter IV

Adjudication

Order of adjudication

16

Order on creditor's petition

17

Order on debtor's petition

18

Order to specify period for discharge

19

Effect of an order of adjudication

20

Stay of pending proceedings

21

Suit by official Assignee and insolvent's partners

22

Publication of order of adjudication

23

Relation back of insolvency

Proceedings consequent on order of adjudication

24

Protection order after adjudication

25

Power to arrest after adjudication

26

Redirection of postal articles

27

Insolvent's schedule

28

Meetings of creditors

29

Public examination of insolvent

Annulment of adjudication

30

Power to annual adjudication

31

Power to cancel one of concurrent orders of adjudication

32

Proceedings on annulment

Chapter V

Compositions and Schemes of Arrangement

33

Submission of proposal and acceptance by creditors

34

Approval of proposal by court

35

Order on approval

36

Power to re-adjudge debtor insolvent

Chapter VI

Discharge

37

Discharge

38

Cases in which court must refuse an absolute discharge

39

Power to annual adjudication for failure to apply for discharge

40

Renewal of application and variation of terms of order

41

Duty of discharged insolvent to assist in realization of property

42

Effect of fraudulent settlements on discharge

43

Effect of order of discharge

Chapter VII

Administration of property

Proof of debts

44

Debts provable in insolvency

45

Mutual dealing and set-off

46

Persons injured by disclaimer may prove

47

Proof of debts

Property of the insolvent

48

Description of insolvent's property divisible amongst creditors

49

Second of subsequent bankruptcy

50

Intimation of after-acquired property

51

Property in possession of insolvent

Effect of insolvency on antecedent transactions

52

Restrictions on rights of creditor under execution

53

Duties of court executing decree or order as to property

54

Avoidance of voluntary transfer

55

Avoidance of preference in certain cases

56

By whom petitions for avoidance may be made

57

Protection of bona fide transactions

58

Validity of certain payments to insolvent

59

Recovery of property or proceeds thereof in case of void or voidable transactions

Realisation of property

60

Possession of property by Official Assignee

61

Seizure of property of insolvent

62

Appropriation of portion of pay or other income to creditors

63

Inspection of goods pledged

64

Copyright

Disclaimer of property and rescission of contracts

65

Priority of debts

66

Rent due before adjudication

67

Joint and separate properties

68

Calculation of dividends

69

Right of creditor who has proved his debt after declaration of dividend

Information regarding property

70

Power to require information regarding insolvent's property

71

Power to issue commissions

Distribution of property

72

Priority of debts

73

Rent due before adjudication

74

Joint and separate property

75

Calculation of dividends

76

Right of creditor who has proved his debt after declaration of dividend

77

Final dividend

78

No suit for dividend

79

Management by and allowance to insolvent

80

Right of insolvent to surplus after payment in full

81

Credit to Government of unclaimed dividends

82

Committee of inspection

Chapter VIII

Summary administration

83

Summary administration

Chapter IX

Administration in Insolvency of Estates of Deceased Persons

84

Administration in insolvency of estates of deceased presons

85

Vesting of estate and mode of administration

86

Payment or transfer by legal representative

87

Saving of jurisdiction of Administration-General

Chapter X

Official Assignees and Special Managers

88

Official Assignees

89

Official Assignee to be a corporation sole

90

Power to administer oath

91

Duties and powers of official Assignee

92

Declaration and distribution of dividends

93

Discretionary powers and control thereof

94

Control of court

95

Power t appoint special manager

96

Delegation of powers to Official Assignee

Chapter XI

Jurisdiction and Procedure

97

Court having jurisdiction in insolvency

98

Restrictions on jurisdiction

99

Jurisdiction to decide questions

100

General powers of courts

101

Other powers

102

Power of the High Court to control insolvency proceedings

103

Withdrawal of petition

104

Consolidation of petition

105

Power to substitute petitioner in certain cases

106

Exemption of corporation, etc. from insolvency proceedings

107

Power to present petition against a partnership name or assumed name

108

Proceedings in partnership name or assumed name

109

Power to stay proceedings

110

Special provisions with respect to High Courts having jurisdiction in insolvency

111

Continuance of proceedings on death of debtor

112

Courts to be auxiliary to each other

113

Courts to be auxiliary to each other

114

Warrants of insolvency court

Chapter XII

Appeal and Review

115

Appeal to court against Official Assignee

116

Appeal against orders of district court and subordinate court.

117

Appeal against order passed by the High Court in insolvency

118

review

Chapter XIII

Offenses and Penalties

119

Punishment for certain offences

120

Frauds by insolvents

121

Insolvent guilty of gambling

122

Insolvent failing to keep proper accounts

123

Insolvent absconding with property

124

False claim

125

Undischarged insolvent obtaining credit

126

Bar of prosecution without order of court

127

Procedure on charge of offence

128

Criminal liability after discharge or composition

129

Disqualifications of insolvent

Chapter XIV

Miscellaneous

130

Application of the provisions of of Limitation Act

131

Access to insolvent's books

132

Fees and percentages

133

Gazette to be evidence

134

Liability of State Government

135

Formal defect not to invalidate proceedings

136

Certain provisions to bind the Government

137

Savings regarding laws for the relief of agriculturist debtors

138

Power to make rules

139

Repeal and savings

First Schedule. - Meeting of creditor's

Second Schedule. - Proof of debts

Third Schedule. - Decision and orders from which an appeal lies to the High Court, etc.



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