Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 62 – The Provincial Insolvency Act,1920

The Provincial Insolvency Act,1920

Section 62. Calculation of dividends

(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 insolvents 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 proof.

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

(c) Disputed proof 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.

Previous | Next

The Provincial Insolvency Act,1920

Indian Laws – Bare Acts

MyNation

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2020 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation