Court : Mumbai
Reported in : [1965(11)FLR365]; (1965)IILLJ478Bom; 1965MhLJ807
..... decree or order of any court in respect of any debt or exempted employee, and neither the official assignee appointed under the provincial insolvency act, 1920, shall be entitled to or have any claim on, any such amount.' 14. the latter part of this sub-section provides that the official assignee appointed under the presidency-towns insolvency act, 1909, shall not be entitled to or have any claim on the amount standing to the credit of the presidency-towns insolvency act in this sub-section makes it clear that when the legislature enacted this ..... and neither the official assignee appointed under the presidency-towns insolvency act, 1909. .. ..... the question is as to in what manner these provisions in the presidency-towns insolvency act have been affected by reason of the provisions in s. ..... 17 and 52 of the presidency-towns insolvency act which deal with the question of effect of the order of adjudication and the description of the insolvent's property divisible amongst creditors. ..... . the intention of the legislature is, therefore, clear and that is this sub-section should override the provisions of the presidency-towns insolvency act ..... the contention is that, having regard to the provisions in the act and the scheme, the official assignee is not entitled to make any claim in respect of the provident fund amount standing to the credit of the insolvent with the regional provident fund commissioner. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1958SC1; [1958]1SCR257
..... (2) of the presidency towns insolvency act, 1909. ..... 93 in a case arising under the presidency towns insolvency act, applies to a case like the present governed by the insolvency regulation, which follows more closely the provincial insolvency act and not the presidency towns insolvency act, the present controversy is not barred by any finding in the order of adjudication ..... the privy council affirmed the decision of the appeal court and dismissed the official assignee's appeal, the respondent-transferee not appearing before the judicial committee. ..... we are prepared to go further and say that even if the burden were on the transferee to show affirmatively that he had paid the full consideration, we would have no hesitation in confirming the findings of the high court on this part of the case which have been arrived at after a very full and fair consideration of the evidence on the record, pro and con, though there is very little evidence adduced in support of the allegation that the ..... it follows that the lease back to the mortgagors being a part of the same transaction is equally binding on the estate of the insolvents. ..... we would fain believe that this extremely dilatory way of dealing with litigation involving the business community is not a habit in that part of the country and that the present case is only an exception. ..... in that case the judicial committee, following the well established rule in england as laid down in the leading case of ex parte learoyd in re foulds (1878) ch. d. 3. .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1966Bom121; (1965)67BOMLR654; ILR1966Bom325
..... the provincial insolvency act 1920, shall e be entitled to or have any claim on any such amounts' the letter part of this sub - section provides that the official assignee appointed under the presidency towns insolvency act, 1909 shall not be entitled or have any claim on the amount standing to the credit of any member in the fund ..... 10 of the employee's provident funds act is in the following terms:'the amount standing to the credit of any members in the fund or of any exempt employee in provident offend shall not in any way be capable to being assigned or charged and shall not be liable to attachment of under and decree o order of any court in respect of any debt of liability incurred by the member or the exempted employee and neither the official assignee appointed under the presidency towns insolvency act, 1909 nor any receiver appointed under ..... the reference to the presidency towns insolvency action the this sub - section makes its clears that when the legislature enacted this provision it was aware of the provisions of the presidency town insolvency act under s. ..... the intention of the legislature of therefore clear and the that is the this sub - section should overuse the provisions of the presidency towns insolvency act. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1930Cal171,121Ind.Cas.745
..... official assignee contends either that the property in the goods had passed from the petitioners to the insolvent prior to his adjudication, or that they are goods which wore at the commencement of the insolvency in the possession, order and or disposition of the insolvent in his trade and or business by the consent and permission of the petitioners, as the true owners thereof under such circumstances that the insolvent was the reputed owner thereof, within the meaning of section 52(2)(c), presidency towns insolvency act, 1909 ..... and that the trust if it ever existed, had been discharged prior to the insolvency ..... whereas, in the presidency towns insolvency act, trust property is not divisible, but 'subject as aforesaid,' property of which the insolvent is the reputed ..... thereupon the petitioners made a claim upon the official assignee for the return of the goods and for the amount ..... goods are trust property and held by bose as such, and, therefore, form no part of his assets divisible among his creditors : section 52(1)(a), presidency-towns insolvency act, 1909. .....
Tag this Judgment!Court : Allahabad
Reported in : AIR1950All704
..... adjudicated insolvent by the high court of bombay under the presidency towns insolvency act, 1909. ..... insolvency act, it was held that the insolvent's power to sell the joint family properties for his antecedent debts vested in the official assignee and the appeal failed in regard to the joint family properties which were not included in the bank's mortgage and which had been sold by the official assignee ..... daring the pendency of the suit the minor sons of sri kishen dass instituted a suit against their father, the bank and the official assignee asking for a declaration that one half of the mortgaged property was owned by them and to the extent of their share the mortgage was not binding on them and also for an injunction ..... court was challenged in two respects: (1) because the declaration in the appellants' favour was confined to properties so far unsold by the official assignee, and (2) regard to the direction as to the provision for the remainder of the antecedent debts. ..... to hold that a law which made a son's personal property liable to satisfy his father's debts which were not immoral would make a part of the joint family property received by him at a partition between him and his father exempt from such liability.20. ..... , with whom sri kishen das had mortgaged a large part of the immovable property owned by the family, instituted a suit for the recovery ..... admittedly be executed against the entire joint family property, including that part of it which was allotted to the sons at division. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1925Cal416,84Ind.Cas.922
..... property belonging to the insolvents within the meaning of section 52 (2) (a) of the presidency towns insolvency act, 1909, at the commencement of the insolvency and, accordingly, he argued that the sum should be available for distribution amongst the creditors of the insolvents.8. ..... hand, the learned counsel for the plaintiffs argued that the sum in question did not belong to the insolvents at the date of the commencement of the insolvency and did not become vested in the official assignee for the benefit of the creditors.9. ..... on the 28th of april, the attorneys for the plaintiff's wrote to the official assignee informing him that the appellants had been adjudicated insolvents and requesting him to let them know whether he intended to prosecute the appeal ..... letter was not answered by the official assignee and this application was made yesterday ..... it was adjourned in order that the official assignee might appear and state what was the position as far as he was concerned, and what course he ..... the learned official assignee has appeared and stated that he is not in a position to give any security for the costs of the appeal and, as i understand, he is not in a position to ..... the further question arises with reference to the second part of the application, namely, the application that the registrar should be directed to pay to the plaintiffs' attorneys the ..... any interest which may have accumulated in part satisfaction of the decree.7. ..... were used by lord justice james in the case of ex-parte banner. .....
Tag this Judgment!Court : Kolkata
Reported in : (1924)ILR51Cal1010
..... belonging to the insolvents within the meaning of section 52(2)(a) of the presidency towns insolvency act, 1909, at the commencement of the insolvency and, accordingly he argued that the sum should be available for distribution amongst the creditors of the insolvents.9. ..... hand, the learned counsel for the plaintiffs argued that the sum in question did not belong to the insolvents at the date of the commencement of the insolvency and did not become vested in the official assignee for the benefit of the creditors.10. ..... on the 98th of april the attorneys for the plaintiffs wrote to the official assignee informing him that the appellants had been adjudicated insolvents and requesting him to let them know whether he intended to prosecute the ..... was not answered by the official assignee and this application was made ..... it was adjourned in order that the official assignee might appear and state what was the position as far as he was concerned, and what course he ..... the learned official assignee has appeared and stated that he is not in a position to give any security for the costs of the appeal and, as i understand, he is not in a position ..... the farther question arises with reference to the second part of the application, namely the application that the registrar should be directed to pay to the plaintiffs' attorneys the ..... were used by lord justice james in the case of ex parte banner, in re keyworth (1874) l.r. 9 ch. ..... interest which may have accumulated in part satisfaction of the decree. 8. .....
Tag this Judgment!Court : Kolkata
Reported in : 96Ind.Cas.459
..... the court (1) for an order expunging the proof of the bank's claim or for an order on the bank to pay to the official assignee the amount of dividend received by it in japan to the official assignee and (2) for an order that the bank's claim for the advance made by it under the deed of hypothecation should be expunged and (3) for an order directing the bank to produce all documents and papers in support of its claim before the official assignee. ..... after the adjudication, the official assignee obtained a declaration that the deed of hypothecation referred to above was invalid as against him, and the bank was directed to account for the dealings with ..... lodged a proof of debt which has been admitted by the official assignee.7. ..... of notice of the above application, the bank applied for letters of request to issue for the examination of the president of its bank at yokohama and another member of the re-adjustment committee for proof of its. ..... he, however, refused to make an unconditional order upon the bank to pay over to the assignee the dividends received by it in japan, but disallowed the commission and the letters of request on the ground that there was no use in allowing the exceedingly long and expansive examination in japan to go on, unless ..... appeal arises out of certain insolvency proceedings under the following ..... to empower the committee to act, and it seems that they executed a power of 'trusteeship' in favour ..... in japan and several other branches in various parts of the world. .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1926Cal898
..... under section 17 of the presidency towns insolvency act (act iii of 1909), on the making of an order of adjudication the property of the insolvent, wherever situate, shall vest in the official assignee and shall become divisible among his creditors; and no creditor shall have any remedy against such property except with ..... the money or other property rightfully belongs to the official assignee, that is, where independently of any claim to prove, the alleged creditor could, if, in this country, be sued and decreed to pay the money or deliver up the property where the money or other property received has not been wrongfully received but has nevertheless been derived from what falls to be regarded in equity as another part of the total fund available to creditor's proof if ..... there is nothing to show that the official assignee could successfully sue the bank for the money received by it in japan or that the bank received any money which could be regarded as a part of the common fund available to creditors generally and in consequence of which the payment of dividends to it could be postponed until the other creditors received dividends proportionate ..... dickens [1840] 3 mpc 98 however baron parke, in delivering the judgment of the judicial committee, observed:the principle is that one creditor shall not take a part of the fund which otherwise could have been available for the payment of all the creditors, and at the same time be allowed to come in pari passu with the other creditors .....
Tag this Judgment!Court : Kolkata
Reported in : AIR1939Cal119
..... . rules made under the presidency towns insolvency act (3 of 1909) which says:proof of debts : subject to the power of the court to extend the time, the official assignee within 28 days after receiving a proof which has-not previously been dealt with by him shall, in writing, either admit or reject it wholly, or in part, or require further evidence in support thereof : provided that where the official assignee has given, notice of his intention to declare a dividend he shall, within 14 days after the date mentioned in such ..... . in this connexion, it is important to bear in mind the provisions of clause 25 of schedule 2, presidency towns insolvency act,, which is in these terms:the official assignee shall examine every proof and the grounds of the debt, and in writing admit or reject it in whole or in part, or require further evidence in support of it ..... the conjunction of dates and indeed all the concomitant facts of this matter, one can only come to the conclusion that in acquiring or attempting to acquire a right to come into court as a 'person interested' within the contemplation of section 31(1), presidency towns insolvency act, syed ahmad ali was not altogether free from some ulterior motive ..... the learned judge came to the conclusion that the applicant had not established the position that he was a person interested' within the contemplation of section 31(1), presidency towns insolvency act, which is the enactment under which this application was purported to be made. .....
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