LLB 3 Years Sem 4 Insolvency Nov 2011 Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q1 Write short answer (Not more than two sentence) :— 20 marks
   • (a) How the insolvency law protects the interest of honest debtors ?
   • (b) What further orders’are required to be passed by the court on making the order of adjudication against the debtor under Prov. |. Act 1920 ?
   • (c) What are the purposes for which the insolvency proceedings can be continued even after the death of the debtor ?
   • (d) What is the distinction between Prov. | Act 1920 and Presi. T. |. Act 1909 in respect of vesting of after-acquired property of the insolvent ?
   • (e) 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
   • (f) Against whom the insolvency petition cannot be presented ?
   • (g) Define the expression "transfer of property" under the Prov. |. Act 1920
   • (h) What powers the insolvency court can exercise when the petitioner creditor does not proceed with due deligence on his petition ?
   • (i) Under what circumstances the court exercising insolvency jurisdiction can issue warrant of arrest against the insolvent debtor ?
   • (j) What are the protected transactions ?
2. Q2 Write short notes on any four of the following :— 20 marks
   • (a) Interim Receiver (d) Declaration of Final Dividend
   • (b) Priority of Debts (e) Disqualification of Insolvent
   • (c) Doctrine of Relation-back (f) Avoidance of Preference
3. Q3 Answer any two of the following problems. 12 marks
   • (a) The debtor has filed an insolvency petition to procure his own adjudication
   • (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 ?
   • (b) 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 i 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 ?
   • (c) 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
   • (i) Can the insolvent enter into private arrangement with his creditors out of court for settlement of their claims after the order of adjudication ?
4. Q4 Write answers in detail to any four of the following questions :— 48 marks
   • (a) What are the courts and what are the powers of the court invested with insolvency jurisdiction under the Prov. |. Act 1920 ?
   • (b) What are the various effects of the order of adjudication ?
   • (c) What conditions. must be fulfilled before a person is adjudged as insolvent ? Who can be adjudged as insolvent ?
   • (d) What are the conditions and contents of debtor's petition ?
   • (e) What are the effects of the annulment of the order of adjudication ?
   • (f) 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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