Bare Act Search Results

Provincial Insolvency Act, 1920 Section 63

Title: Right of Creditor Who Has Not Proved Debt Before Declaration of a Dividend

State: Central

Year: 1920

Any creditor who has not proved his debt before the declaration of any dividend or dividends shall be entitled to be paid, out of debt any money for the time being in the hands of the receiver, any of dividend or dividends which he may have failed to receive before at money is applied to the payment of any future dividend or dividends; but he shall not be entitled to disturb the distribution of any dividend declared before his debt was proved by reason that he as not participated therein.

Provincial Insolvency Act, 1920 Section 62

Title: Calculation of Dividends

State: Central

Year: 1920

(1) In the calculation of dividends, the receiver shall retain in his hands sufficient assets to meet (a) debts provable under this Act and appearing, from the insolvent's statements or otherwise, to be due to persons resident in places so distant that in the ordinary course of communication they have not had sufficient time to tender their proofs; (b) debts provable under this Act, the subject of claims not yet determined; (c) disputed proofs or claims; and (d) the expenses necessary for the administration of the estate or otherwise. (2) Subject to the provisions of sub-section (1), all money in hand shall be distributed as dividends.

Provincial Insolvency Act, 1920 Section 64

Title: Final Dividend

State: Central

Year: 1920

When the receiver has realised all the property of the insolvent or so much thereof as can, in the opinion of the Court, be realised without needlessly protracting the receivership, he shall declare a final dividend; but before so doing, he shall give notice in manner prescribed to the persons whose claims to be creditors have been notified but not proved, that if they do not prove their claims within the time limited by the notice, he will proceed to make a final dividend without regard to their claims.After the expiration of the time so limited, or if the Court, on application by any such claimant, grants him further time for establishing his claim, then any the expiration of such further time, the property of the insolvent shall be divided among the creditors entered in the schedule without regard to the claims of any other persons.

Provincial Insolvency Act, 1920 Section 65

Title: No Suit for Dividend

State: Central

Year: 1920

No suit for a dividend shall lie against the receiver; but where the receiver refuses to pay any dividend, the Court may, on the application of any creditor who is entered in the schedule, order him to pay it, and also to pay out of his own money interest thereon for the time that it is withheld, and the costs of the application.

Provincial Insolvency Act, 1920 Part III

Title: Administration of Property

State: Central

Year: 1920

.....annum computed from the declaration of a dividend to the time when the debt would have become payable, according to the terms on which it was contracted. Section 46 - Mutual dealings and setoff Where there have been mutual dealings between an insolvent and a creditor proving or claiming to prove a debt under this Act, an account shall be taken of what is due from the one party to the other in respect of such mutual dealings, and the sum due from the one party shall be set off against any sum due from the other party, and the balance of the account, and no more, shall be claimed or paid on either side respectively. Section 47 - Secured creditors (1) Where a secured creditor realises his security, he may prove for the balance due to him, after deducting the net amount realised. (2) Where a secured creditor relinquishes his security for the general benefit of the creditors, he may prove for his whole debt. (3) Where a secured creditor does not either realise or relinquish his security, he shall, before being entitled to have his debt entered in the schedule, state in his proof the particulars of his security, and the value at which he assesses it, and shall be entitled.....

Aligarh Muslim University Act, 1920 Schedule 1

Title: Schedule I

State: Central

Year: 1920

.....be, involves moral turpitude : Provided that nothing in this clause shall be deemed to affect any rights accruing to an officer appointed on contract in accordance with the terms of such contract. (3)(a) Notwithstanding anything contained in the terms of the contract of service of a teacher, the Executive Council shall be entitled to dismiss a teacher on grounds of misconduct after following the procedure specified in clause (c), but save as aforesaid, the Executive Council shall not be entitled to determine the employment of a teacher save for good cause and after giving three months' notice in writing or payment of three months' salary in lieu of such notice. (b) The determination of a teacher's employment shall require a two-thirds majority of the members of the Executive Council present and voting. (c) The Vice-Chancellor may suspend a teacher against whom any misconduct is alleged and shall report the case to the next meeting of the Executive Council, but before any orders for dismissal are passed, the teacher shall be informed of the allegations made against him and shall be given a reasonable opportunity to makesuch representation to the Executive Council or to.....

Aligarh Muslim University Act, 1920 Complete Act

State: Central

Year: 1920

ALIGARH MUSLIM UNIVERSITY ACT, 1920 ALIGARH MUSLIM UNIVERSITY ACT, 1920 40 of 1920 Act 62 of 1951.- "The University Education Commission, while making certain recommendations in regard to University education generally, have also dealt with certain special problems relating to the Central Universities at Banaras, Aligarh and Delhi. These recommendations were generally approved by the Central Advisory Board of Education at their meeting in April, 1950. The Govern- ment of India, after careful consideration of the matter, have decided that while it is not necessary to change the names of the Banaras and Aligarh Universities the disqualifications imposed by the respective Acts on non-Hindus and non-Muslims being members of the Court of the University should be removed. They have also decided that other recommendations of the University Educa- tion Commission, in so far as they relate to the Central Universities, should be implemented as far as possible. It is, therefore, now proposed to amend the Aligarh Muslim University Act in order to give effect to those recommendations. 2. The main features of the Bill are- (i) religious instruction is to be given only to those.....

Indian Red Cross Society (Bengal Branch) Act, 1920 Complete Act

State: West Bengal

Year: 1920

..... 66. Sub-secs. (2) and (3) om. by W.B. Act 31 of 1963. * ***** * Section 56D. Vacancies Omitted by W.B. Act 31 of 1963. Section 6E. Power to make rules and power to act notwithstanding vacancy (1) The Managing Body may, subject to other provisions of this Act, make rules for the administration, management and control of the Society and for all matters ancillary or indidental to those purposes, and (a) the grades of members and the terms and conditions of different grades of membership; (b) the appointment of associates and the terms and conditions of associateship; (c) the powers to be exercised by the Managing Body; (d) the procedure of the Society and the Managing Body; (e) the constitution of Committees and the delegation of powers to them; (f) the constitution of Branches of the Society and the delegation of powers to them; (g) the acquisition and the disposal of properties on behalf of the Society; (h) entering into agreements and contracts on behalf of the Society and executing documents on its behalf and the affixing of the seal of the Society; (i) investing the funds of the Society; (j) the audit and the accounts of the funds of the Society; (k) the relations with.....

Provincial Insolvency Act, 1920 Complete Act

Title: Provincial Insolvency Act, 1920

State: Central

Year: 1920

.....- Protection of order Section32 - Power to arrest after adjudication Section33 - Schedule of creditors Section34 - Debts provable under the Act Section35 - Power to annul adjudication of insolvency Section36 - Power to cancel one of concurrent orders of adjudication Section37 - Proceedings on annulment Section38 - Compositions and schemes of arrangement Section39 - Order on approval Section40 - Power to re-adjudge debtor insolvent Section41 - Discharge Section42 - Cases in which Court must refuse an absolute discharge Section43 - Adjudication to be annulled on failure to apply for discharge Section44 - Effect of order of discharge Part III Section45 - Debt payable at a future time Section46 - Mutual dealings and setoff Section47 - Secured creditors Section48 - Interest Section49 - Mode of proof Section50 - Disallowance and reduction of entries in schedule Section51 - Restriction of rights of creditor under execution Section52 - Duties of Court executing decree as to property taken in execution Section53 - Avoidance of voluntary transfer Section54 - Avoidance of preference in certain cases Section54A - By whom petitions for annulment may be made .....

Provincial Insolvency Act, 1920 Section 45

Title: Debt Payable at a Future Time

State: Central

Year: 1920

A creditor may prove for a debt not payable when the debtor is adjudged an insolvent as if it were payable presently, and may receive dividends equally with the other creditors, deducting therefrom only a rebate of interest at the rate of six per centum per annum computed from the declaration of a dividend to the time when the debt would have become payable, according to the terms on which it was contracted.