The Provincial Insolvency Act, 1920
Central Act · Act 5 of 192086 provisions7 citing judgments
The enactment
| Long title | An Act to consolidate and amend the Law relating to Insolvency *** as administered by Courts having jurisdiction outside the Presidency-towns ***. |
|---|---|
| Type | Act |
| Citation | Act 5 of 1920 |
| Year | 1920 |
| Jurisdiction | Central |
| Ministry | Ministry of Corporate Affairs |
| Status | In force as published by the source |
| Provisions published | 86 |
| Subjects | corporate |
Full text, provision by provision
Every provision below opens in full, free and without an account.
- Section 1 Short title and extent
- Section 2 Definitions
- Section 3 Insolvency jurisdiction
- Section 4 Power of Court to decide all questions arising in insolvency
- Section 5 The following had been subs. by Act 9 of 1926, s. 11, for “and of the town of Rangoon”1 citing judgment
- Section 6 Acts of insolvency
- Section 7 Petition and adjudication1 citing judgment
- Section 8 Exemption of corporation, etc., from insolvency proceedings
- Section 9 Conditions on which creditor may petition
- Section 10 Conditions on which debtor may petition
- Section 11 Court to which petition shall be presented
- Section 12 Verification of petition
- Section 13 Contents of petition
- Section 14 Withdrawal of petitions
- Section 15 Consolidation of petitions
- Section 16 Power to change carriage of proceedings
- Section 17 Continuance of proceedings on death of debtor
- Section 18 Procedure for administration of petition
- Section 19 Procedure on admission of petition
- Section 20 Appointment of interim receiver
- Section 21 Interim proceedings against debtor
- Section 22 Duties of debtors
- Section 23 Release of debtor
- Section 24 Procedure at hearing
- Section 25 Dismissal of petition
- Section 26 Award of compensation
- Section 27 Order of adjudication
- Section 28 Effect of an order of adjudication
- Section 28A Insolvent's property to comprise certain capacity
- Section 29 Stay of pending proceeding
- Section 30 Publication of order of adjudication
- Section 31 Protection order
- Section 32 Power to arrest after adjudication
- Section 33 Schedule of creditors
- Section 34 Debts provable under the Act
- Section 35 Power to annul adjudication of insolvency1 citing judgment
- Section 36 Power to cancel one of concurrent orders of adjudication
- Section 37 Proceedings on annulment1 citing judgment
- Section 38 Compositions and schemes of arrangement
- Section 39 Order on approval
- Section 40 Power to re-adjudge debtor insolvent
- Section 41 Discharge
- Section 42 Cases in which Court must refuse an absolute discharge
- Section 43 Adjudication to be annulled on failure to apply for discharge
- Section 44 Effect of order of discharge
- Section 45 Debt payable at a future time
- Section 46 Mutual dealings and setoff1 citing judgment
- Section 47 Secured creditors
- Section 48 Interest
- Section 49 Mode of proof
- Section 50 Disallowance and reduction of entries in schedule
- Section 51 Restriction of rights of creditor under execution
- Section 52 Duties of Court executing decree as to property taken in execution
- Section 53 Avoidance of voluntary transfer
- Section 54 Avoidance of preference in certain cases
- Section 54A By whom petitions for annulment may be made
- Section 55 Protection of bona fide transactions
- Section 56 Appointment of Receiver1 citing judgment
- Section 57 Power to appoint Official Receivers
- Section 58 Powers of Court if no receiver appointed
- Section 59 Duties and powers of receiver
- Section 59A Power to require information regarding insolvent's property
- Section 60 Special provisions in regard to immovable property1 citing judgment
- Section 61 Priority of debts
- Section 62 Calculation of dividends
- Section 63 Right of creditor who has not proved debt before declaration of a dividend
- Section 64 Final dividend
- Section 65 No suit for dividend
- Section 66 Management by and allowance to insolvent
- Section 67 Right of insolvent to surplus
- Section 67A Committee of inspection
- Section 68 Appeal to Court against receiver
- Section 69 Offences by debtors
- Section 70 Procedure on charge under section 69
- Section 71 Criminal liability after discharge or composition
- Section 72 Undischarged insolvent obtaining credit
- Section 73 Disqualifications of insolvent
- Section 74 Summary administration
- Section 75 Appeals
- Section 76 Costs
- Section 77 Courts to be auxiliary to each other
- Section 78 Limitation
- Section 79 Power to make rules
- Section 80 Delegation of powers to Official Receivers
- Section 81 Power of State Government to bar application of certain provisions to certain Courts
- Section 82 Savings
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 Provincial Insolvency Act, 1920 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.