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Section 106 – The Presidency – Towns Insolvency Act,1909

The Presidency – Towns Insolvency Act,1909

Section 106. Summary administration in small cases

(1) Where the Court is satisfied by affidavit or otherwise, or the official assignee reports to the Court, that the property of an insolvent is not likely to exceed in value three thousand rupees or such other less amount as may be prescribed, the Court may make an order that the insolvent’s estate be administered in a summary manner, and thereupon the provisions of this Act shall be subject to the following modifications, namely:

(a) No appeal shall lie from any order of the Court, except by leave of the Court;

(b) No examination of the insolvent shall be held except on the application of a creditor or the official assignee;

(c) The estate shall, where practicable, be distributed in a single dividend;

(d) Such other modifications as may be prescribed with the view of saving expense and simplifying procedure:

Provided that nothing in this section shall permit the modification of the provisions of this Act relating to the discharge of the insolvent.

(2) The Court may at any time, if it thinks fit, revoke an order for the summary administration of an insolvent’s estate.

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The Presidency – Towns Insolvency Act,1909

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