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In force

The Presidency-Towns Insolvency Act, 1909

123 sections · As amended up to 2026-08

Sections

  1. 0Section 0
  2. 1The original s.14 was renumbered as sub-section (1) of that section by Act 11 of 1927, s. 2
  3. 2Definitions
  4. 3Courts having jurisdiction in insolvency
  5. 4Jurisdiction to be exercised by a single Judge
  6. 5Exercise of jurisdiction in chambers
  7. 6Delegation of powers to officers to officers of Court
  8. 7Power of Court to decide all questions arising in insolvency
  9. 8Appeals in insolvency
  10. 9Proof where security realized
  11. 10Power to adjudicate
  12. 11Restrictions on jurisdiction
  13. 12Conditions on which creditor may petition
  14. 13Proceedings and order on creditors petition
  15. 14Conditions on which debtor may petition
  16. 15Proceedings and order on debtors petition
  17. 16Discretionary powers as to appointment of inter in receiver
  18. 17Effect of order of adjudication
  19. 18Stay of proceedings
  20. 19Power to appoint special manager
  21. 20Advertisement of order of adjudication
  22. 21Power for Court to annul adjudication in certain cases
  23. 22Concurrent proceedings in Courts in India
  24. 23Proceedings on annulment
  25. 24Insolvents schedule
  26. 25Protection order
  27. 26Meeting of creditors
  28. 27Power for Court to expunge or reduce proof
  29. 28Submission of proposal and acceptance by creditors
  30. 29Approval of proposal by Court
  31. 30Order on approval
  32. 31Power to re-adjudge debtor insolvent
  33. 32Limitation of effect of composition or scheme
  34. 33Duties of insolvent as to discovery and realization of property
  35. 34Arrest of insolvent
  36. 35Redirection of letters
  37. 36Discovery of Insolvents property
  38. 37Power to issue commissions
  39. 38Discharge of insolvent
  40. 39Cases in which the Court must refuse an absolute discharge
  41. 40Hearing of application for discharge
  42. 41Power to annul adjudication on failure to apply for discharge
  43. 42Renewal of application and variation of terms of order
  44. 43Duty of discharged insolvent to assist in realization of property
  45. 44Fraudulent settlements
  46. 46Debts provable in insolvency
  47. 47Mutual dealings and set-off
  48. 48Rules as to proof of debts
  49. 49Priority of debts
  50. 50Rent due before adjudication
  51. 51Relation of assignees title
  52. 52Description of insolvents property divisible amongst creditors
  53. 53Restriction of rights of creditor under execution
  54. 54Duties of Court executing decree as to property taken in execution
  55. 55Avoidance of voluntary transfer
  56. 56Avoidance of preference in certain cases
  57. 57Protection of
  58. 58Possession of property by official assignee
  59. 59Seizure of property of insolvent
  60. 60Appropriation of portion of pay or other income to creditors
  61. 62Disclaimer of onerous property
  62. 63Disclaimer of leaseholds
  63. 64Power to call on official assignee to disclaim
  64. 65Power for Court to rescind contract
  65. 66Power for Court to make vesting order in respect of disclaimed property
  66. 67Persons injured by disclaimer may prove
  67. 68Duty and powers of official assignee as to realization
  68. 69Declaration and distribution of dividends
  69. 70Joint and separate properties
  70. 71Calculation of dividends
  71. 73Final dividend
  72. 75Power to allow insolvent to manage property, and allowance to insolvent for maintenance or service
  73. 76Right of insolvent so surplus
  74. 77Appointment and removal of official assignees of insolvents estate
  75. 78Power to administer oath
  76. 79Duties as regards the insolvents conduct
  77. 80Duty to furnish list of creditors
  78. 85Discretionary powers and control thereof
  79. 86Appeal to Court
  80. 87Control of Court
  81. 88Committee of inspection
  82. 89Control of committee of inspection over official assignee
  83. 90Power of the Court
  84. 91Consolidation of petitions
  85. 92Power to change carriage of petition
  86. 93Continuance of proceedings on death of debtor
  87. 94Power to stay proceedings
  88. 95Power to present petition against a partner
  89. 96Power to dismiss petition against some respondents only
  90. 97Separate insolvency petitions against partners
  91. 98Suits by official assignee and insolvents partners
  92. 99Proceedings in partnership name
  93. 100Warrants of Insolvency Courts
  94. 101Limitation of appeals
  95. 102Undischarged insolvent obtaining credit
  96. 103Punishment of insolvent for certain offences
  97. 105Criminal liability after discharge or composition
  98. 106Summary administration in small cases
  99. 107Exemption of corporation, etc., from insolvency proceedings
  100. 108Administration in insolvency of estate of person dying insolvent
  101. 109Vesting of estate and mode of administration
  102. 110Payments or transfer by legal representatives
  103. 111Saving of jurisdiction of Administrator-General
  104. 114Publication of Rules
  105. 115Exemption from duty of transfers, etc., under this Act
  106. 116The Gazette to be evidence
  107. 117Swearing of affidavits
  108. 118Formal defect not to invalidate proceedings
  109. 119Formal defect not to invalidate proceedings
  110. 120Certain provisions to bind the Government
  111. 121Certain provisions to bind the Government
  112. 123Claims to monies credited to Government under section 122
  113. 124Access to insolvents book
  114. 125Fees and percentages
  115. 126Courts to be auxiliary to each other
  116. 127Saving
  117. 182Misfeasance
  118. 183Name under which to sue or be sued
  119. 184Office vacated by insolvency
  120. 261Vesting and transfer of property
  121. 374No suit for dividend
  122. 1112Rules
  123. 2122Lapse and credit to Government of unclaimed dividends