Bare Act Search Results

Displaced Persons (Debts Adjustment) Act, 1951 Complete Act

Title: Displaced Persons (Debts Adjustment) Act, 1951

State: Central

Year: 1951

.....(DEBTS ADJUSTMENT) ACT, 1951 Chapter I Section1 - Short title, extent and commencement Section2 - Definitions Section3 - Over-riding effect of Act, rules and orders Section4 - Tribunals competent to exercise jurisdiction under this Act Chapter II Section5 - Application by displaced debtors for adjustment of debts Section6 - Rejection of application in certain cases Section7 - Issue of notice Section8 - Objection by respondents Section9 - Proceeding after service of notice on respondents Section10 - Claims by creditors against displaced debtors Section11 - Procedure on creditors petition Section12 - Objection by creditor to schedule of assets Section13 - Claims by displaced creditors against persons who are not displaced debtors Section14 - Procedure on displaced creditor's petition Section15 - Consequences of application by displaced debtor Section16 - Debts secured on immovable property Section17 - Debts secured on movable property Section18 - Claim against insurance companies Section19 - Calls on shares in companies Section20 - No calls to be made on displaced person or bank when company or co-operative society is in liquidation Section21 - Power to.....

Displaced Persons Debts Adjustment Act, 1951 Complete Act

Title: Displaced Persons Debts Adjustment Act, 1951

State: Central

Year: 1951

.....DEBT ADJUSTMENT ACT, 1951 Chapter I Section1 - Short title, extent and commencement Section2 - Definitions Section3 - Over-riding effect of Act, rules and orders Section4 - Tribunals competent to exercise jurisdiction under this Act Chapter II Section5 - Application by displaced debtors for adjustment of debts Section6 - Rejection of application in certain cases Section7 - Issue of notice Section8 - Objection by respondents Section9 - Proceeding after service of notice on respondents Section10 - Claims by creditors against displaced debtors Section11 - Procedure on creditors petition Section12 - Objection by creditor to schedule of assets Section13 - Claims by displaced creditors against persons who are not displaced debtors Section14 - Procedure on displaced creditor's petition Section15 - Consequences of application by displaced debtor Section16 - Debts secured on immovable property Section17 - Debts secured on movable property Section18 - Claim against insurance companies Section19 - Calls on shares in companies Section20 - No calls to be made on displaced person or bank when company or co-operative society is in liquidation Section21 - Power to.....

Displaced Persons (Debts Adjustment) Act,1951 Complete Act

State: Central

Year: 1951

.....the Indian Companies Act, 1913, and includes a company deemed to be registered under that Act by reason of any of the provisions contained in this Act: (2) "Companies Act" means the Indian Companies Act, 1913; (3) "compensation" means any compensation paid, whether in cash or in kind, in respect of any immovable property in West Pakistan belonging to a displaced person under any general scheme arrived at in this behalf between the Government of India and the Government of Pakistan or framed by the Government of India; (4) "co-operative society" means a co-operative society registered under the Co-operative Societies Act, 1912or under any other law for the time being in force in any State for the registration of cooperative societies; (5) "Co-operative Societies Act" meansthe Co-operative Societies Act, 1912, and includes any other law for the time being in force in any State relating to co-operative societies; (6) "debt" means any pecuniary liability, whether payable presently or in future, or under a decree or order of a Civil or Revenue Court or otherwise, or whether ascertained or to be ascertained, which - (a) in the case of displaced person who has left or been displaced.....

The Tamil Nadu Debt Relief Act, 1979 Complete Act

State: Tamil Nadu

Year: 1979

THE TAMIL NADU DEBT RELIEF ACT, 1979 THE TAMIL NADU DEBT RELIEF ACT, 1979 ACT NO. 40 OF 1979 CHAPTER I PRELIMINARY 1. Short title, extent and commencement " (1) This Act may be called the Tamil Nadu Debt Relief Act, 1979 (2) It extends to the whole of the State of Tamil Nadu (3) This Act except section 32,33 and 34 shall be deemed to have come into force on the 15th day of July 1978 and sections 32, 33 and 34 of this Act shall come into force on the date of the publication of this Act in the Tamil Nadu Government Gazette. 2. Declaration " It is hereby declared that this Act is for giving effect to the policy of the State towards securing the principles specified in Article 46 of the Constitution. 3. Definitions " In this Act, unless the context otherwise requires, -- (1) ˜creditor' includes his heirs, legal representatives and assigns (2) ˜debt' means any liability in cash or in kind, whether secured or unsecured and whether decreed or not, but does not include rent as defined in clause (8); (3) ˜debtor' means any person from whom any debt is due: Provided that a person shall not be deemed to be a debtor, if he ".....

Displaced Persons (Debts Adjustment) Act, 1951 Chapter II

Title: Dest Adjustment Proceedings

State: Central

Year: 1951

.....both movable and immovable (including claims due to him) which are not liable to attachment either under the Code of Civil Procedure, 1908 (Act V of 1908), as amended by section 31 of this Act or under any other law for the time being in force, a specification of the values thereof and of the places where the same may be found; (iii) a schedule of all his properties, both movable and immovable (including claims due to him) which are not included in the schedule under item (ii) of this clause; and (iv) a schedule of all his properties in respect of which a claim has been submitted to the registering officer under the Displaced Persons (Claims) Act, 1950 (XLIV of 1950), and, where any order has been passed in relation to the verification and valuation of the claim under that Act, with a certified copy of the order. (3) All persons whose names are shown in any schedule as having claims against the displaced debtor and all persons whose names are shown as joint-debtors shall be deemed to be the respondents to the application and there shall be filed along with the application, or with the permission of the Tribunal at any later state of the proceedings, as many copies.....

Displaced Persons Debts Adjustment Act, 1951 Chapter II

Title: Dest Adjustment Proceedings

State: Central

Year: 1951

.....both movable and immovable (including claims due to him) which are not liable to attachment either under the Code of Civil Procedure, 1908 (Act V of 1908), as amended by section 31 of this Act or under any other law for the time being in force, a specification of the values thereof and of the places where the same may be found; (iii) a schedule of all his properties, both movable and immovable (including claims due to him) which are not included in the schedule under item (ii) of this clause; and (iv) a schedule of all his properties in respect of which a claim has been submitted to the registering officer under the Displaced Persons (Claims) Act, 1950 (XLIV of 1950), and, where any order has been passed in relation to the verification and valuation of the claim under that Act, with a certified copy of the order. (3) All persons whose names are shown in any schedule as having claims against the displaced debtor and all persons whose names are shown as joint-debtors shall be deemed to be the respondents to the application and there shall be filed along with the application, or with the permission of the Tribunal at any later state of the proceedings, as many copies.....

Tamil Nadu Pawnbrokers and Debt Relief Laws Complete Act

State: Tamil Nadu

Year: 1980

.....Gazette (hereafter in this section referred to as the said date), against any person who is a debtor within the meaning of said Act, shall, subject to the next succeeding sub-section, stand stayed until the expiry of six months from the said date and where are an application has been made by the judgement - debtor under sub-section (2) of section 10-A of the said Act, until the final disposal of the said application: Provided that nothing in this sub-section shall apply to the sale, in respect of any such debt, of " (ii) any immovable property confirmed before the said date: Provided further that, nothing in this sub-section shall apply to any proceeding in respect of any debt secured by any mortgage of the description referred to in sub-section (1) of section 9 of the said Act. (2) Nothing contained in the section shall be deemed to invalidate any proceeding in which the order passed has been executed or satisfied in full before the said date. Tamil Nadu State Acts

Displaced Persons (Debts Adjustment) Act, 1951 Section 16

Title: Debts Secured on Immovable Property

State: Central

Year: 1951

.....creditor. (2) If the creditor elects to retain the security, he may apply to the Tribunal, having jurisdiction in this behalf as provided in section 10, for a declaration of the amount due under his debt. (3) Where in any case, the creditor elects to retain his security if the displaced debtor receives any compensation in respect of any such property as is referred to in sub-section (1), the creditor shall be entitled-- (a) where the compensation is paid in cash, to a first charge thereon: Provided that the amount of the debt in respect of which he shall be entitled to the first charge shall be that amount as bears to the total debt the same proportion as the compensation paid in respect of the property bears to the value of the verified claim in respect thereof and to that extent the debt shall be deemed to have been reduced; (b) where the compensation is by way of exchange or property, to a first charge on the property situate in India so received by way of exchange: Provided that the amount of the debt in respect of which he shall be entitled to the first charge shall be that amount as bears to the total debt the same proportion as the value of the property.....

Displaced Persons Debts Adjustment Act, 1951 Section 16

Title: Debts Secured on Immovable Property

State: Central

Year: 1951

.....creditor. (2) If the creditor elects to retain the security, he may apply to the Tribunal, having jurisdiction in this behalf as provided in section 10, for a declaration of the amount due under his debt. (3) Where in any case, the creditor elects to retain his security if the displaced debtor receives any compensation in respect of any such property as is referred to in sub-section (1), the creditor shall be entitled-- (a) where the compensation is paid in cash, to a first charge thereon: Provided that the amount of the debt in respect of which he shall be entitled to the first charge shall be that amount as bears to the total debt the same proportion as the compensation paid in respect of the property bears to the value of the verified claim in respect thereof and to that extent the debt shall be deemed to have been reduced; (b) where the compensation is by way of exchange or property, to a first charge on the property situate in India so received by way of exchange: Provided that the amount of the debt in respect of which he shall be entitled to the first charge shall be that amount as bears to the total debt the same proportion as the value of the property.....

Displaced Persons (Debts Adjustment) Act, 1951 Section 17

Title: Debts Secured on Movable Property

State: Central

Year: 1951

.....II.--Where any motor vehicle or other movable property has been purchased with money the whole or any part of which has been advanced by a creditor who retains the ownership thereof by way of security but allows the debtor to use it with his permission, the property shall for the purposes of this section be deemed to be pledged property of the debtor in the possession of the creditor. (2) Notwithstanding anything contained in this section, the creditor shall be entitled to receive, and to give a valid discharge in respect of, any sum due under this Act or under any other law for the time being in force from an insurance company in respect of any claim arising out of the loss or destruction of the pledged property, but the creditor shall, in any case where the sum received from the insurance company is greater than the amount of the debt due to him, pay over the surplus to the debtor.