LL.B. (Five Years) Sem 8 Bankruptcy Laws Nov 2011 Question Paper - Mumbai University | munotes

Questions asked in this paper

SECTION I - Q.1: Write short answer, not more than two sentence (20 Marks - 2 marks each)

1. Q1 How the insolvency law protects the interest of honest debtors?
2. Q2 What further orders are required to be passed by the court on making the order of adjudication against the debtor under Prov. I. Act 1920?
3. Q3 What are the purposes for which the insolvency proceedings can be continued even after the death of the debtor?
4. Q4 What is the distinction between Prov. I Act 1920 and Presi. T. I. Act 1909 in respect of vesting of after-acquired property of the insolvent?
5. Q5 A debtor presents an insolvency petition which is dismissed by the court. Can the debtor be said to have committed an act of insolvency in these circumstances?
6. Q6 Against whom the insolvency petition cannot be presented?
7. Q7 Define the expression "transfer of property" under the Prov. I. Act 1920.
8. Q8 What powers the insolvency court can exercise when the petitioner creditor does not proceed with due deligence on his petition?
9. Q9 Under what circumstances the court exercising insolvency jurisdiction can issue warrant of arrest against the insolvent debtor?
10. Q10 What are the protected transactions?

SECTION II - Q.2: Write short notes on any four of the following (20 Marks - 5 marks each)

1. Q11 Interim Receiver
2. Q12 Priority of Debts
3. Q13 Doctrine of Relation-back
4. Q14 Declaration of Final Dividend
5. Q15 Disqualification of Insolvent
6. Q16 Avoidance of Preference

SECTION III - Q.3: Answer any two of the following problems (12 Marks - 6 marks each)

1. Q17 The debtor has filed an insolvency petition to procure his own adjudication as insolvent. (i) What proofs are required to be adduced by the debtor to the court at the time of hearing of the petition? (ii) What are the matters in respect of which the court or the creditor can examine the debtor?
2. Q18 Before the decree for payment of money passed in a suit for recovery of debt filed by the unsecured creditors against their debtor was executed, the judgment debtor was adjudged as insolvent by the insolvency court. (i) Can the unsecured creditors execute the decree for their benefit after the adjudication as insolvent of their judgment debtor? (ii) Can the secured creditors execute the decree for their benefit after the adjudication as insolvent of their judgement debtor?
3. Q19 A debtor who was adjudged as insolvent by the District Court submits to the court a proposal for a scheme of arrangement of his affairs. (i) State the procedure which the court should follow on submission of the proposal by the debtor. (ii) Can the insolvent enter into private arrangement with his creditors out of court for settlement of their claims after the order of adjudication?

SECTION IV - Q.4: Write answers in detail to any four of the following questions (48 Marks - 12 marks each)

1. Q20 What are the courts and what are the powers of the court invested with insolvency jurisdiction under the Prov. I. Act 1920?
2. Q21 What are the various effects of the order of adjudication?
3. Q22 What conditions must be fulfilled before a person is adjudged as insolvent? Who can be adjudged as insolvent?
4. Q23 What are the conditions and contents of debtor's petition?
5. Q24 What are the effects of the annulment of the order of adjudication?
6. Q25 Who is an indigent person? State the reasons for which the court can reject the application for permission to sue as indigent person.

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