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Section 65: Calculation of dividends

The Insolvency Act, 1955State Act of Kerala · Act 2 of 1956

(1) In the calculation of dividends, the receiver shall retain in his hands sufficient assets to meet—

(a) debts provable under this Act and appearing, from the insolvent’s statements or otherwise, to be due to persons resident in places so distant that in the ordinary course of communication they have not had sufficient time to tender their proofs;

(b) debts provable under this Act, the subject of claims not yet determined;

(c) disputed proofs or claims; and

(d) the expenses necessary for the administration of the estate or otherwise.

(2) Subject to the provisions of sub-section (1), all money in hand shall be distributed as dividends.

Where this provision sits

ActThe Insolvency Act, 1955
Section65
Marginal noteCalculation of dividends
JurisdictionState of Kerala
StatusIn force as published by the source

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