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.

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

1. Q1 Who is the "Secured Creditor"?
2. Q2 Which Courts in India have Insolvency jurisdiction?
3. Q3 Define two objects of Insolvency law.
4. Q4 Who is a judgement debtor?
5. Q5 What do you understand by "Dividend"?
6. Q6 What is after acquired property?
7. Q7 What is Surplus?
8. Q8 When can an insolvency petition be dismissed?
9. Q9 Who is an Interim receiver?
10. Q10 What is meant by the "act of insolvency"?

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

1. Q11 "Insolvency Notice" under section 9 of the PTI Act
2. Q12 Vesting of property
3. Q13 Creditors petition
4. Q14 Avoidance of Voluntary transfer
5. Q15 Small Insolvencies
6. Q16 Disqualification of Insolvent

SECTION III - Q.3: Solve any two of the following with reasons (12 Marks - 6 marks each)

1. Q17 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?
2. Q18 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?
3. Q19 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?

SECTION IV - Q.4: Answer the following in detail, any four (48 Marks - 12 marks each)

1. Q20 What is a discharge? When can absolute discharge be refused?
2. Q21 Discuss the powers and duties of Official Assignee and Official Receiver.
3. Q22 On what grounds can an adjudication order be annulled? What are the effects of such an order?
4. Q23 Explain suits by indigent persons.
5. Q24 Explain proof of debts and distribution of dividends.
6. Q25 Explain powers of receivers as to antecedent status.

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