The Presidency – Towns Insolvency Act,1909
Section 74. No suit for dividend
1[No suit for dividend. No suit for a dividend shall lie against the official assignee, but, where the official assignee refuses to pay any dividend, the Court may, on the application of the creditor who is aggrieved by such refusal, order him to pay it, and also to pay out of his own money interest thereon at such rate as may be prescribed for the time that it is withheld, and the costs of the application.
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1. S.74 has been amended in its application to Bombay and Madras by the Presidency – Towns Insolvency (Bombay Amendment) Act,1933 (Bom.20 of 1933), s.2, and the Presidency – Towns Insolvency (Madras Amendment) Act,1943 (Mad.5 1943), s.6 .
