In force · As amended up to 2026-08
4. Jurisdiction to be exercised by a single Judge.-- All matters in respect of which jurisdiction is given by this Act shall be ordinarily transacted and disposed of by or under the direction of one of the Judges of the Court, and the Chief Justice[1] * * * shall, from time to time, assign a Judge for that purpose.
4. For Madras, read: "under his control"— see the Presidency-towns Insolvency (Madras Amendment) Act, 1943 (Mad.5 of 1943), s.4.
(d) the expenses necessary for the administration of the estate or otherwise.
(2) Subject to the provisions of sub-section (1), all money[1] [in hand] shall be distributed as dividends.
72 . Right of creditor who has not proved debt before declaration of a dividend.-- Any creditor who has not proved his debt before the declaration of any dividend or dividends shall be entitled to be paid out of any money for the time being[2] [in the hands] of the official assignee any dividend or dividends which he may have failed to receive, before that money is applied to the payment of any future dividend or dividends, but he shall not be entitled to disturb the distribution of any dividend declared before his debt was proved by reason that he has not participated therein.
4. This sub-section has been replaced by another in Calcutta: see s.3 (c), ibid .
5. Rep. by this Act.
6. The words "and in the Chief Court of Lower Burma under that Act as applied by the Lower Burma Courts Act, 1900" rep. by the A.O.1937.
7. The words "and in the Chief Court of Lower Burma" rep., ibid .
4. Duty of insolvent to attend if required.-- It shall be the duty of the insolvent to attend any meeting which the official assignee may, by notice, require him to attend, and any adjournment thereof. Such notice shall be either delivered to him personally or sent to him at his address by post at least three days before the date fixed for the meeting.
4. Contents of affidavit.-- The affidavit shall contain or refer to a statement of account showing the particulars of the debt, and shall specify the vouchers, if any, by which the same can be substantiated. The official assignee may at any time call for the production of the vouchers.
Source: India Code