.....the enforcement of any agreement or security in respect of a loan 1[or for the redemption of any such security.]. (4) Nothing in this section shall affect the rights of any transferee for value who satisfies the Court that the transfer to him was bona fide and that he had at the time of such transfer no notice of any fact which would have entitled the debtor as against the lender to relief under this section. For the purposes of this sub-section, the word "notice" shall have the same meaning as is ascribed to it in section 4 of the Transfer of Property Act, 1882. (5) Nothing in this section shall be construed derogating from the existing powers or jurisdiction of any Court. 4. Insolvency Proceedings On any application relating to the admission or amount f a proof of a loan in any insolvency proceedings the Court may exercise the like powers as may be exercised under section 3 by a Court in a suit to which this Act applies. -------------- 1 Ins. by Act 38 of 1926, S. 3. Punjab State Acts
List Judgments citing this section