Bare Act Search Results

Provincial Insolvency Act, 1920 Section 55

Title: Protection of Bona Fide Transactions

State: Central

Year: 1920

Subject to the foregoing provisions of this Act with respect to the effect of insolvency on an execution, and with respect to the avoidance of certain transfers and preferences, nothing in this Act shall invalidate in the case of an insolvency (a) any payment by the insolvent to any of his creditors; (b) any payment or delivery to the insolvent; (c) any transfer by the insolvent for valuable consideration; or (d) any contract or dealing by or with the insolvent for valuable consideration: Provided that any such transaction takes place before the date of the order of adjudication, and that the person with whom such transaction takes place has not at the time notice of the presentation of any insolvency petition by or against the debtor.

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 Section 41

Title: Mode of Proof of University Record

State: Central

Year: 1920

A copy of any receipt, application, notice, order, proceeding, resolution of any authority or committee of the University or other documents in possession of the University or any entry in any register duly maintained by the University, if certified by the Registrar, shall be received as prima facie evidence of such receipt, application, notice, order, proceeding or resolution, document or the existence of entry in the register and shall be admitted as evidence of the matters and transactions therein where the original thereof would, if produced, have been admissible in evidence, notwithstanding anything contained in the Indian Evidence Act, 1872 or in any other law for the time being in force.]

Provincial Insolvency Act, 1920 Part II

Title: Proceedings from Act of Insolvency to Discharge

State: Central

Year: 1920

.....under the provisions of any law referred to in clause (b) on the date of the application.] Explanation - For the purposes of this section the act of an agent may be the act of the principal.] ______________________ 1. Section 6 renumbered as subsection (1) by the Insolvency Laws (Amendment ) Act w.e.f 1-9-79. Prior to Amendment Section 6 Stood as follows "[Acts of insolvency.- A debtor commits an act of insolvency in each of the following cases, namely:- (a) if, in [Substituted by the A.O.1950 for "the Provinces"] [India] or elsewhere, he makes a transfer of all or substantially all his property to a third person for the benefit of his creditors generally; (b) if, in [Substituted by the A.O.1950 for "the Provinces"] [India] or elsewhere, he makes a transfer of his property or of any part thereof with intent to defeat or delay his creditors; (c) if, in [Substituted by the A.O.1950 for "the Provinces"] [India] or elsewhere, he makes any transfer of his property, or of any part thereof, which would, under this or any other enactment for the time being in force, be void as a fraudulent preference if he were adjudged an insolvent; (d) if, with intent to defeat or.....

Provincial Insolvency Act, 1920 Section 42

Title: Cases in Which Court Must Refuse an Absolute Discharge

State: Central

Year: 1920

(1) The Court shall refuse to grant an absolute order of discharge under section 41 on proof of any of the following facts, namely: (a) that the insolvent's assets are not of a value equal to eight annas in the rupee on the amount of his unsecured liabilities, unless he satisfies the Court that the fact that the assets are not of a value equal to eight annas in the rupee on the amount of his unsecured liabilities has arisen from circumstances for which he cannot justly be held responsible; (b) that the insolvent has omitted to keep such books of account as are usual and proper in the business carried on by him and as sufficiently disclose his business transactions and financial position within the three years immediately preceding his insolvency; (c) that the insolvent has continued to trade after knowing himself to be insolvent; (d) that the insolvent has contracted any debt provable under this Act without having at the time of contracting it any reasonable or probable ground of expectation (the- burden of proving which shall lie on him) that he would be able to pay it; (e) that the insolvent has failed to account satisfactorily for any loss of assets or for any.....

Provincial Insolvency Act, 1920 Schedule 2

Title: Schedule

State: Central

Year: 1920

SCHEDULE II (See section 81) PROVISIONS OF THE ACT APPLICATION OF WHICH MAY BE BARRED BY STATE GOVERNMENTS. Provisions of the Act Subject Section 26 Award of compensation. 28, sub-section (3). Reputed property of an insolvent. 34 Debts provable under the Act 38} 39} Compositions and schemes of arrangement. 40} 42, sub-sections (1) and (2). Obligation to refuse absolute discharge. 45} 46} 47} Method of proof of debts. 48} 51} 52} 53} Effect of insolvency on antecedent transaction 54} 55} 61 [except clause (a) of sub-section (1)and sub-section (4)]. Priority of debts. 62} 63} 64} Dividends. 65} 66 Management by an allowance to insolvent. 72 Penalty for obtaining of credit by undischarged insolvent.

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 .....

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.....