Judgment Search Results Home > Cases Phrase: presidency towns insolvency act 1909 section 6 delegation of powers to officers to officers of court Court: us supreme court Page 1 of about 11 results (0.196 seconds)

Paramjeet Singh Patheja Vs. Icds Ltd.

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 .....

P. Veerasamy Vs. the Official Assignee High Court, Madras

Court : Supreme Court of India

Reported in : AIR1999SC661; 1999(2)ALLMR(SC)234; JT1999(1)SC8; (1999)IIMLJ3(SC); 1999(1)SCALE15b; (1999)2SCC505; [1999]1SCR37; 1999(2)LC803(SC)

..... , mulla also says (p.438) that under section 60 of the presidency towns insolvency act, 1909, the 'official assignee cannot, without an order of the court, recover any portion of the salary or ..... 'after acquired property' on that question, the points that arise for consideration are as follows:(1) in the context of section 17 and section 52(2) of the presidency towns insolvency act, 1909, does the after- acquired property of the insolvent automatically vest in the official assignee ? ..... section 310 of that act deals with 'income payment orders' and sub-clause (7) thereof which defines 'income' reads as follows:section 310(7) : for the purpose of this section, the income of the bankrupt comprises every payment in the nature of income which is from time to time made to him or to which he, from time to time becomes entitled, including any payment in respect of the carrying on of any business, or in respect of any office or employment.in halsbury's ..... as we are here not concerned with immovable property but with 'income' that may be received after adjudication by the insolvent from his business - and that question is covered by a specific provision in section 60(2) of the act conferring certain powers on the court, - we do not think it necessary in the present case to go into the question as to what extent the ..... come back to madras city either for continuing the education of his children or to attend at the office of the official assignee, he must be allowed to do his kerosene business. .....

R.B. Jodha Mal Kuthiala Vs. the Commissioner of Income-tax, Punjab, Ja ...

Court : Supreme Court of India

Reported in : AIR1972SC126; [1971]82ITR570(SC); (1971)3SCC369; [1972]1SCR639

..... we may note that the powers of the custodian are no less than that of the official assignee under the presidency towns insolvency act, 1909. ..... the high court held that the property did not by reason of the adjudication of the debtor cease to be a subject fit for taxation and in view of the provisions of section 17 of the presidency towns insolvency act, the official assignee was the 'owner' of the property and he could rightly be assessed in respect of the income from that property under section 9. ..... creditors and thereafter, except as directed by this act, no creditor to whom the insolvent is indebted in respect of any debt provable in insolvency shall, during the pendency of the insolvency proceedings, 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:provided that this section shall not affect the power of any secured creditor to realize or otherwise ..... section 12 prescribes that the property which has vested in or of which possession has been taken by the custodian shall be exempt from all legal process, including seizure, distress, ejectment or sale by any officer of a court or any other authority and no injunction or other order of whatever kind in respect of such property shall be granted or made by any court or any other authority. .....

Official Assignee, High Court, Bombay Vs. Haradagiri Basavanna Gowd an ...

Court : Supreme Court of India

Reported in : AIR1963SC754; [1963]Supp(1)SCR809

..... the first question which calls for our decision in this appeal is in whom does the property of the insolvent vest for deciding this question, the relevant provisions of the provincial insolvency act and the presidency towns insolvency act have to be considered. ..... section 77 of the said act lays down that courts should be auxiliary to each other, and it provides that all courts having jurisdiction in insolvency and the officers of such courts respectively, shall severally act in aid of and be auxiliary to each other in all matters of insolvency; and it adds that an order of a court seeking aid with a request to another of the said courts shall be deemed sufficient to enable the latter court to exercise, in regard to the matters directed by the order, such jurisdiction as either of such courts could exercise in regard to similar matters ..... as a result of the combined operation of the said two sectons, the insolvency under the presidency act commences on the commission of the act of insolvency and it is on that date that the property of the insolvent vests in the official assignee. ..... section 17 of the presidency act provides, inter alia, that 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. ..... 51 of the presidency act which relates back the adjudication order to the earliest act of insolvency within three months before the presentation of the insolvency petition, s. .....

Zenith Steel Tubes and Industries Ltd. and anr. Vs. Sicom Limited

Court : Supreme Court of India

Reported in : AIR2008SC451; 2008(2)ALLMR(SC)350; 2008(1)BomCR30; [2008]141CompCas428(SC); (2008)1SCC533; [2007]80SCL435(SC); 2007AIRSCW7240; AIR2008SC451; 2008(1)SCC533; 2008(1)LH(SC)731

..... : air2007sc168 where in connection with the enforcement of an arbitral award and the issuance of an insolvency notice under section 9(2) of the presidency towns insolvency act, 1909 this court, inter alia, held that it is a well established rule that a provision must be construed in a manner which would give effect to its purpose and to cure the mischief in the light of which ..... naphade concluded his submissions by urging that both the learned single judge and the division bench of the bombay high court had misconstrued the provisions of section 22 of the 1985 act, as amended, in holding that the amended provisions granting protection to guarantors in suits for enforcement, could not be stretched to include proceedings for enforcement ..... mask and company , where it was observed that the exclusion of the jurisdiction of the civil court was not to be readily inferred, but that such exclusion must either be explicitly expressed or clearly implied, it was held that there was nothing in the language or context of section 80 or section 85 of the above act to suggest that the jurisdiction of the civil court was expressly or by necessary implication barred with regard to the question as to whether the defendants have become ..... the context in which the expression 'suit' had been used in section 22 of the aforesaid act made such expression all pervasive to include other proceedings as well before a court or other authority empowered to recover debts and other dues against the company .....

Bai Hira Devi and ors. Vs. the Official Assignee of Bombay

Court : Supreme Court of India

Reported in : AIR1958SC448; (1958)60BOMLR632; (1958)IIMLJ108(SC); (1958)36MysLJ(SC)513; [1958]1SCR1384

..... is no doubt that it is the insolvency court alone which has jurisdiction to annual the insolvent's transactions, whether the case is governed by the presidency-towns insolvency act or by the provincial insolvency act; and so the proceedings taken under ..... the relevant sections of the two insolvency acts in effect require the insolvency courts to set aside the impugned transactions in exercise of the insolvency courts' exclusive jurisdiction ..... 92 does not apply in the present case, there is no other section in the evidence act which can be said to exclude evidence of the agreement set up ..... there are six provisos to this section with which we are not concerned in ..... question, it would be necessary to consider the true scope and effect of sections 91 and 92 of the evidence act. 4. ..... as we have already observed, sections 91 and 92 really supplement ..... 55 though the said section cannot and would not apply to similar proceedings instituted ..... it would be noticed that sections 91 and 92 in effect ..... the two sections, however, differ in ..... this section, ..... section 92 excludes the evidence of oral agreements and it applies to cases where the terms of contacts, grants or other dispositions of property have been proved by the production of the relevant documents ..... section 91 provides that, 'when the terms of a contact, or of a grant, or of any other disposition of property, have been reduced to the form of a document, and in all cases in which any matter is required by law to be reduced to the form of a .....

E.P.F.Commissioner Vs. O.L.of Esskay Pharmaceuticals Ltd.

Court : Supreme Court of India

..... or any charges payable by him to the appropriate government under any provision of this act, or under any of the conditions specified under section 17, shall, where the liability therefore has accrued before the order of adjudication or winding up is made, be deemed to be included among the debts which under section 49 of the presidency towns insolvency act, 1909 (3 of 1909), or under section 61 of the provincial insolvency act, 1920 (5 of 1920), or under section 530 of the companies act, 1956 (1 of 1956), are to be paid in priority to all other debts ..... record as to what happened to the sale notice, but this much is evident that after 2 years and about 4 months, the enforcement officer informed the appellant that the gujarat high court has passed order dated 11.3.2004 for winding up of the company and appointed official liquidator to look after its properties and clear the debts. ..... official liquidator (2005) 8 scc 190 and observed: in fact in allahabad bank it was categorically held that the adjudication officer would have such powers to distribute the sale proceeds to the banks and financial institutions, being secured creditors, in accordance with inter se agreement/arrangement between them and to the other persons entitled thereto ..... that no such provision has been incorporated in either of these enactments despite conferment of extraordinary power upon the secured creditors to take possession and dispose of the secured assets without the intervention of the court or tribunal. .....

Maharashtra State Co-operative Bank Ltd. Vs. the Assistant Provident F ...

Court : Supreme Court of India

Reported in : AIR2010SC868; 2010(1)BomCR255; 2009(111)BomLR4483; JT2009(13)SC106; (2010)ILLJ644SC; (2009)8MLJ758(SC); 2009(13)SCALE280; (2009)10SCC123; 2009(10)LC4574(SC)

..... or any charges payable by him to the appropriate government under any provision of this act or under any of the conditions specified under section 17, shall, where the liability therefore has accrued before the order of adjudication or winding up is made, be deemed to be included among the debts which under section 49 of the presidency-towns insolvency act, 1909 (3 of 1909), or under section 61 of the provincial insolvency act, 1920 (5 of 1920) or under section 530 of the companies act, 1956 (1 of 1956) are to be paid in priority to all other debts in the distribution of the property of the ..... did not have the effect of transferring of the ownership of the sugar bags to the appellant-bank and the recovery officer did not commit any illegality by attaching the same and the high court was fully justified in directing payment of a portion of the sale price to the assistant commissioner for being appropriated towards the provident fund dues of the workers.37. ..... a contract of pawn thus carries with it an implication that the security is available to satisfy the debt and under this implication the pawnee has the power of sale on default in payment where time is fixed for payment and where there is no such stipulated time on demand for payment and on notice of his intention to sell after default. .....

N. Subramania Iyer Vs. the Official Receiver, Quilon

Court : Supreme Court of India

Reported in : AIR1958SC1; [1958]1SCR257

..... (2) of the presidency towns insolvency act, 1909. ..... that was an appeal from the calcutta high court in a case arising under the presidency towns insolvency act, iii of 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. ..... their lordships have pointed out in the course of their judgment that the provisions of the presidency towns insolvency act then before their lordships were in terms similar to those of the bankruptcy act of 1869 which had been repeated in the subsequent acts of 1883 and 1914. ..... 55 of the presidency towns insolvency act. ..... in this case their lordships observed further that if the transaction impeached was a real and not fictitious one, the receiver could not be said to have brought the case within the section unless he proved that the transferee know that the transferor was insolvent at the time the transfer was made, even though the transfer was of the entire assets of the transferor. ..... he died in or about the year 1921 leaving him surviving his widow, two sons and two daughters, who jointly carried on the ancestral business through the eldest son under a power of attorney. .....

Maharashtra State Co-operative Bank Ltd. Vs. the Assistant Provident F ...

Court : Supreme Court of India

Reported in : 2009(8)MLJ758; 2009(10)SCC123; 2010(1)SCJ408; AIR2009SCW6784; AIR2010(2)(Bom)R272; AIR2010SC868; 2009(2)SCC(L&S)743

..... before the order of adjudication or winding up is made, be deemed to be included among the debts which under section 49 of the presidency-towns insolvency act, 1909 (3 of 1909), or under section 61 of the provincial insolvency act, 1920 (5 of 1920) or under section 530 of the companies act, 1956 (1 of 1956) are to be paid in priority to all other debts in the distribution of the property of the insolvent or the assets of the company being wound up, as the case may be.explanation: in this sub-section and in section 17, "insurance fund" means any fund established by an employer under any scheme for ..... . did not have the effect of transferring of the ownership of the sugar bags to the appellant-bank and the recovery officer did not commit any illegality by attaching the same and the high court was fully justified in directing payment of a portion of the sale price to the assistant commissioner for being appropriated towards the provident fund dues of the workers.37 ..... . a contract of pawn thus carries with it an implication that the security is available to satisfy the debt and under this implication the pawnee has the power of sale on default in payment where time is fixed for payment and where there is no such stipulated time on demand for payment and on notice of his intention to sell after default .....