LLB 3 Years Sem 4 Insolvency Dec 2012 Pg2 Question Paper - Mumbai University | munotes

Questions asked in this paper

• a) Under the instructions given by a debtor, the servent of the debtor gave

1. Q1 answer was given by the servent of the debtor file insolvency petition against the debtor ? Why ?
   • (b) M/s. Kalpani Brothers, a partnership firm, consisting of four partners—one of whom was minor, is facing insolvency proceedings Who are the partners against whom the order of adjudication will operate if passed against the firm ?
   • (ii) What will be the effect of such order on the property and profits of the firm including the minor’s share therein ?
   • (c) Onan insolvency petition presented against the debtor the court makes an order for summary adminisiration of the estate of the debtor
   • (i) When the court can make an order for summary administration of the estate of the debtor ?
   • (ii) How the provisions of the Provincial Insolvency Act, 1920 stand i modified in case of summary administration ?
2. Q4 Write answers in detail to any four of the following :— 48 marks
   • (a) State and explain the principles common to all acts of insolvency
   • (b) Which Courts exercise insolvency jurisdiction under the Provincial Insolvency Act, 1920 ? State and explain the powers of the Court. i
   • (c) State the circumstances under which the order of adjudication can be annulled by the Court
   • (d) State the provisions relating to distribution of property of the insolvent and calculation of dividends
   • (e) What are the divisible and non-divisible properties of the insolvent ?
   • (f) What are the effects of insolvency on antecedent transactions under the

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