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Section 21 – The Provincial Insolvency Act,1920

The Provincial Insolvency Act,1920

Section 21. Interim proceedings against debtor

At the time of making an order admitting the petition or any subsequent time before adjudication the Court may either of its own motion or on application of any creditor make on or more of the following orders, namely,-

(1) Order the debtor to give reasonable security for his appearance until final orders are made upon the petition, and direct, that in default of giving such security, he shall be detained in the civil prison;

(2) Order the attachment by actual seizure of the whole or any of the property in the possession or under the control of the debtor, other than such particulars (not being his books of account) as are exempted by the Code of Civil Procedure,1908 (5 of 1908), or by any other enactment for the time being in force from liability to attachment and sale in execution of a decree;

(3) order a warrant to issue with or without bail for the arrest of the debtor, and direct either that he be detained in the civil prison until the disposal of the petition, or that he be released on such terms as to security as may be reasonable and necessary:

Provided that an order under clause (2) or clause (3) shall not be made unless the Court is satisfied that the debtor, with intent to defeat or delay his creditors or to avoid any process of the Court, –

(i) Has absconded or has departed from the local limits of the jurisdiction of the Court, or is about to abscond or to depart from such limits, or is remaining outside them, or

(ii) Has failed to disclose or has concealed, destroyed transferred or removed from such limits, or is about to conceal, destroy transfer or remove from such limits, any documents likely to be of use to his creditors in the course of the hearing, or any part of his property other than such particulars as aforesaid.

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The Provincial Insolvency Act,1920

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