LL.B. (Three Years) Sem 4 Bankruptcy Laws May 2017 Question Paper - Mumbai University | munotes

Questions asked in this paper

• N.B: (1) All questions are compulsory. (2) Figures to the right indicate marks. (3) Give reasons / case law wherever necessary.

Q.1 Q.1: Answer the following in not more than two sentences each (20 Marks - 2 marks each)

1. (1) Who is the "Secured Creditor"?
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2. (2) Which Courts in India have Insolvency jurisdiction?
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3. (3) Define two objects of Insolvency law.
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4. (4) Who is a judgement debtor?
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5. (5) What do you understand by "Dividend"?
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6. (6) What is after acquired property?
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7. (7) What is Surplus?
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8. (8) When can an insolvency petition be dismissed?
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9. (9) Who is an Interim receiver?
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10. (10) What is meant by the "act of insolvency"?
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Q.2 Q.2: Write short note on any four of the following (20 Marks - 5 marks each)

1. (1) "Insolvency Notice" under section 9 of the PTI Act
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2. (2) Vesting of property
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3. (3) Creditors petition
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4. (4) Avoidance of Voluntary transfer
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5. (5) Small Insolvencies
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6. (6) Disqualification of Insolvent
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Q.3 Q.3: Solve any two of the following with reasons (12 Marks - 6 marks each)

1. (1) On the petition of 'B', a Creditor of 'A' is declared as Insolvent by the Court; (i) Explain the power of the court to stay proceedings pending against 'A'. (ii) When can the court appoint special manager?
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2. (2) ABC Private Limited is a Company registered under the Companies Act. It has committed defaults in the repayment of loans to its creditors. (i) Can the creditors file an Insolvency petition against the Company? (ii) What is an Insolvency petition?
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3. (3) A debtor 'X' makes a transfer of all or substantially all his property to a third person for the benefit of his creditors generally. (i) State and explain the consequences of 'X's transfer (ii) What is fraudulent preference?
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Q.4 Q.4: Answer the following in detail, any four (48 Marks - 12 marks each)

1. (1) What is a discharge? When can absolute discharge be refused?
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2. (2) Discuss the powers and duties of Official Assignee and Official Receiver.
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3. (3) On what grounds can an adjudication order be annulled? What are the effects of such an order?
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4. (4) Explain suits by indigent persons.
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5. (5) Explain proof of debts and distribution of dividends.
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6. (6) Explain powers of receivers as to antecedent status.
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Read from the scan above, so a character or two may differ. The scan is the original.