Where there have been mutual dealings between an insolvent and a creditor proving or claiming to prove a debt under this Act, an account shall 19 be taken of what is due from the one party to the other in respect of such mutual dealings, and the sum due from the one party shall be set off against any sum due from the other party, and the balance of the account, and no more, shall be claimed or paid on either side respectively.
Section 47: Mutual dealings and set off
The Insolvency Act, 1955State Act of Kerala · Act 2 of 1956
Where this provision sits
| Act | The Insolvency Act, 1955 |
|---|---|
| Section | 47 |
| Marginal note | Mutual dealings and set off |
| Jurisdiction | State of Kerala |
| Status | In force as published by the source |
Find the provision, not just read it
The full text above is free, and it stays free. What a free CourtMesh account adds is everything you cannot do by reading one page at a time:
- Search 49,000+ Central and State enactments by what a provision says, not by its number
- Jump from any section to every judgment that has applied it
- Search 300 million+ Indian court records alongside the statute
- Ask a research agent to find and read the case law on a provision for you
Free account. No card. About a minute to create.
Create a free accountNeed this as data, not as a page? The Insolvency Act, 1955 is one of 49,000+ enactments on CourtMesh. The Indian court cases API serves the case law that cites these provisions over JSON, with API documentation and plans and pricing. See also the judgment library.