Court : Mumbai
Reported in : (1965)67BOMLR896
..... in issue depends upon the relevant provisions of the presidency-towns insolvency act, 1909. ..... indeed, there is this difference that the decision of the insolvency judge on an appeal against the decision of the officer exercising delegated powers of the court is subject to appeal only if he grants leave, while in the case of a judgment rendered by the insolvency judge in an appeal against the decision of the official assignee, an appeal would lie under; clause (b) of section 8(2), an argument was made that an appeal under section 86 would be almost an original proceeding where everything will have to be gone into ..... act, there is a clear distinction between the insolvency court and the official assignee, the court, being this high court, section 6 enables the chief justice to delegate some of the functions which the court is entitled to perform to a subordinate officer of the court, and the decision or order of such officer is deemed to be that of the court ..... consistently with the purpose of the insolvency act, immediately on the order of adjudication, it vests the property of the insolvent in the official assignee by section 17-but it vests in him for the sole purpose of its becoming ..... it is true that when the insolvency act speaks of proving and proof of debts under section 48, the words are not used as they are understood ..... the object of the special procedure for proof of debts in the insolvency acts is to ensure that such matters are quickly disposed of and no needless harassment is .....
Tag this Judgment!Court : Chennai
Reported in : 39Ind.Cas.429; (1917)32MLJ449
..... of section 86 of the presidency towns insolvency act confirms this ..... other support for the same conclusion is afforded, to return to section 46 of the provincial insolvency act, by the considerations that (1) section 22 occurs in a different portion of the act from section 46 and is not referred to in it, although the period of limitation specified in the former differs from that in the latter, and (2) if respondent's contention be accepted, section 46 provides in clause (1) for the anomaly of a second appeal to the district court from the official receiver's decision without restriction of the grounds on which it ..... that provision does not apply to one portion of the official receiver's duties, those which he performs in exercise of the powers which an ordinary receiver possesses under section 20, which are merely the executive acts of an officer of the court and which need no more be supposed subject to appeal (in the strict sense) than those of any receiver appointed under the ..... is, that in india the official receiver with delegated powers combines the functions of the english receiver or trustee and registrar, and that the procedure under section 22, which in england is applied only to the acts and decisions of the former, has been applied by the indian act to those of an offiical receiver who fills both ..... it is noteworthy that under the insolvent debtors act, before the presidency act of 1909 was passed, an application was spoken of to revise the official assignee's order and .....
Tag this Judgment!Court : Chennai
Reported in : 1999(2)ALD(Cri)595; 1999CriLJ2929; 1999(1)CTC687
..... submitted that under section 17 of the presidency towns insolvency 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 no creditor to whom the insolvent is indebted in respect of any debt shall have any remedy against the property of the insolvent in respect of the debt or shall commence any suit or other legal proceedings except with the leave of the court and on such terms as the court may impose.7. ..... main contention of the counsel for the petitioner is that once the accused in the proceedings under section 138 of the negotiable instruments act is declared as an insolvent, by virtue of sections 17, 18(1) and (3) and 25(1) and (3) of the presidency towns insolvency act iii of 1909, the petitioner/accused is being protected from prosecution for the offence under section 138 of the negotiable instruments act, since immediately after the declaration as an insolvent, he cannot be permitted to operate the bank account, as the entire estate will be vested ..... out rule 2, order iii of the insolvency rules, 1958 the learned counsel for the petitioner would submit that every debtor, soon after his petition is admitted in the insolvency court shall lodge forthwith in the office of the official assignee all books, ..... section 68 deals with duty and powers of official ..... section 18(3) of the act confers power to the insolvency court to stay the proceedings or allow them to continue on such terms as it .....
Tag this Judgment!Court : Chennai
Reported in : AIR1981Mad54
..... section 115 of the presidency towns insolvency act provides as follows:'every transfer, mortgage, assignment, power of attorney, proxy paper, certificate, affidavit, bond or other proceedings, instrument of writing whatsoever before or under any order of the court and any copy thereof, shall be exempt from payment of any stamp or other duty whatsoever.'5. ..... madras, ilr 40 mad 810: air 1917 mad 832, it has been held by this court that under section 7 of the presidency towns insolvency act, this court in the exercise of its insolvency jurisdiction has jurisdiction to adjudicate on claims relating to immovable property situate outside the limits of its ordinary original civil jurisdiction. ..... according to the learned counsel section 115 of the presidency towns insolvency act which grants exemption from payment of stamp duty in respect of the transfers executed by the official assignee fell within item 44 of the concurrent list. ..... 7 of the presidency towns insolvency act confers jurisdiction on the high court in garnishee proceedings even when the garnishee lives outside the territorial jurisdiction. ..... section 7 of the act confers power on the court to decide all questions whatsoever whether of law or fact which may arise in any case of insolvency coming within the cognisance of the court or which the court may deem it expedient or necessary to decide for the purpose of doing complete justice or making a complete distribution of property in any such cases. .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1953Bom19; (1952)54BOMLR719
..... motion is taken out for an order to summon before the court under section 36 of the presidency-towns insolvency act, 3 of 1909, the following four persons -- shri brijnarayan brahmwar, shri govind ram ..... under the presidency-towns insolvency act, the official assignee has the power to investigate into matters relating to the insolvent so as to enable him ..... has been made, summon before it in such manner as may be presoribed the insolvent or any person known or suspected to have in his possession any property belonging to the insolvent, or supposed to be indebted to the insolvent, or any person whom tha court may deem capable of giving information respecting the insolvent, his dealings or property ; and the court may require any such person to produce any documents in his custody or power relating to the insolvent, his dealings or property. ..... why then should the legislature make an express provision for the examination of persons liable to be examined under section 36 on commission when the power has already been conferred under section 90, clause (1), by reason of the application of the rules of procedure applicable to trial of suits the inference that the legislature regarded the proceeding for examination under section 36 not merely as proceedings for examination of witnesses in support or against the contentions of parties to a ..... clear that the examination must normally bo held before the court or the officer to whom the powers may be delegated under section 6 of the act. .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1983Bom54; 1983MhLJ107
..... makhija submitted that since the words 'question of title: are not expressly present in section 7 of the presidency-towns insolvency act the powers of the court under the presidency-towns insolvency act are somewhat narrower and the court cannot investigate a question of title under the presidency-towns insolvency act. ..... under section 7 however, of the presidency-towns insolvency act the insolvency court has full power to decide all question of priorities and all other questions of whatsoever, whether of law of fact. ..... thus, an express power is conferred on the insolvency court to decide question of title under section 4 of the presidency-towns insolvency act. mr. ..... under section 4 of the presidency-towns insolvency act, the court has full power to decide all question whether of title or priority of any nature whatsoever, etc. ..... under section 51 of the presidency-towns insolvency act the insolvency of a debtor shall be deemed to have relation to and to commence at the time of the commission of the act the time of the commission of the act of insolvency on which an order of adjudication is made against the debtor. ..... the presidency-towns insolvency act is an earlier act of 1909. ..... it is true that there is a difference in the language of section 7 of the presidency-towns insolvency act 1909 as compared to section 4 of the presidency-towns insolvency act , 1920. .....
Tag this Judgment!Court : Chennai
Reported in : AIR1950Mad410
..... it is also significant that in section 59a, provincial insolvency act (v [5] of 1920) introduced by the act xxxix [39] of 1926 corresponding to section 36, clauses (1) to (8), presidency towns insolvency act the marginal note does not use the word 'discovery' but reads only as follows: 'power to require information regarding insolvent's property.'27. ..... some reason i never quite understood as 'garnishees' should be examined, which of course in effect means cross-examined, by the official assignee under the powers of section 36, and that statements made by them not amounting to a definite admission of indebtedness to the estate should be used under section 7 to ask the court there and then to pass a decree against the garnishees, on the ground that, though they are not tantamount to direct admissions, they were available as evidence to show that ..... the contract was made in calcutta, and the registered office of one of the companies was at calcutta while that of the other was at rangoon. ..... in my opinion, section 7 of act iii [3] of 1909 as amended by section 2 of act xix [19] of 1927 only applies to matters appearing in sub-sections (4) and (5) of section 36 and to no other matters. .....
Tag this Judgment!Court : Mumbai
Reported in : 1993(1)BomCR546
..... it is of considerable significance that the submissions of learned counsel for debtors run counter to the very definition 'secured creditor' as set out in section 2(e) of provincial insolvency act, 1920 which definition is duly adopted for the purpose of presidency town insolvency act, 1909 as well by judicial decision of this high court as well as high court of calcutta.19. ..... the learned counsel for the debtors has submitted that this provision contained in section 9(3)(c) of the presidency-towns insolvency act, 1909 provides a clue and justification for his submission that no insolvency notice can be taken out by the decree holder-creditor if the decree-holder creditor already holds adequate security for payment of the debt whether such security is provided by the judgment debtor under the decree or ..... section 9(2), section 9(3) and section 9(4) of the said act are more or less identical with the provisions contained in section 9(1)(i) and 9-a of the said act incorporated in presidency-towns insolvency act, 1909 r/w rules 52-a and rule 52-a(1) to rule 52-b(4) of the bombay insolvency rules, 1910. ..... it is well settled law that the insolvency court at the stage of deciding the notice of motion for setting aside the insolvency notice cannot go behind the decree on which the insolvency notice is based and the power of insolvency court at this stage is confined to determining whether any amount is due under the decree to the judgment creditors. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2007SC168; 2006(4)ARBLR202(SC); 2007(4)BomCR447; (2006)6CompLJ425(SC); 2006(5)CTC357; JT2006(10)SC41; 2006(11)SCALE459
..... section 9(1)(a) to (h) of the presidency towns insolvency act, 1909 set out the different acts of insolvency committed by a debtor which acts of insolvency would form the ground or basis for filing an insolvency petition against the debtor under section 12 of the ptia for having him adjudicated insolvent. ..... thus the thrust of submissions made by both the learned senior counsel can be summarized as under: courts are institutions invested with the judicial power of the state to finally adjudicate upon disputes between litigants and to make formal and binding orders and decrees ..... section 4(a) defines 'court' and various sections deal with the powers of the court. ..... section 4(a) defines 'court' and various sections deal with the powers of the court. ..... was equally known that there is a fundamental difference between 'courts' and 'arbitrators' -- that courts constitute the judiciary and exercise the judicial power of the state whereas arbitrators are persons chosen by parties to a contract to resolve their disputes.c) the indian arbitration act, 1899 clearly draws the distinction between courts and arbitrators. ..... even if some of the trappings of the court are present in his case, he lacks the basic, essential and fundamental requisite in that behalf because he is not invested with the state's judicial power...he is not a tribunal because the state has not invested him with its inherent judicial power and the power of adjudication which he exercises is derived by him from the agreement between .....
Tag this Judgment!Court : Rajasthan
Reported in : AIR1984Raj34; 1983()WLN26
..... act and if any proceedings are pending against a debtor in a court situated outside the presidency-towns or in a court situated in an area where the powers of superintendence of that insolvency court does not extend, then by exercise of power under sub-section (3) of section 18, that court can stay the ..... my opinion under sub-section (3) of section 18, an order in the nature of stay of suit, could be passed by any court situated outside the presidency towns, which may even be beyond the superintendence of the insolvency courts in presidency towns. ..... that even if the proceedings are allowed to be continued or as a matter of fact the proceedings would continue, as the words 'any court' do not cover a court outside the presidency towns or a court beyond the superintendence of the insolvency court, so the suit instituted in any court, governed by the p. i. ..... act gives us an idea that it is an act to consolidate and amend the law relating to insolvency as administered by courts having jurisdiction outside the presidency-towns ..... that is the words 'any court' may be the courts situated outside the presidency-towns or even be the court, which may subject to the superintendence of that high court or which may not be so subject and it is only on such construction that sub-section (3) of section 18 can be given its due ..... submitted that the application may be treated to be the application under section 17 of the presidency-towns insolvency act (iii of 1909) (hereinafter referred to as 'the p. t. i. .....
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