LL.B. (Three Years) Sem 4 Bankruptcy Laws Apr 2013 Question Paper - Mumbai University | munotes

Questions asked in this paper

Q.1 Q.1: Answer in two - three sentences (20 Marks - 2 marks each)

1. (a) What penalty is provided under P.I. Act, 1920 for the debtor deliberately not delivering his divisible property to the court?
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2. (b) Which directions the court gives to the interim receiver any two?
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3. (c) What is meant by "Act of insolvency"?
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4. (d) Define Debtor.
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5. (e) What is the purpose of appointment of interim receiver?
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6. (f) Which powers the insolvency court can exercise against petitioner not proceeding with due deligence?
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7. (g) When can the insolvency petition be withdrawn?
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8. (h) When can a Foreigner be adjudged as insolvent by Indian Court?
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9. (i) Mention the specific conditions of a secure creditors petition.
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10. (j) When a transaction is regarded as bonafide and protected under insolvency laws?
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Q.2 Q.2: Write short notes any four (20 Marks - 5 marks each)

1. (a) Effects of Order of discharge
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2. (b) Duties of Debtor
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3. (c) Insolvency Notice
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4. (d) Priority of Debts
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5. (e) Official Assignee
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6. (f) Protection Order
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Q.3 Q.3: Solve any two (12 Marks - 6 marks each)

1. (a) 'A' and 'B' are partners of a firm. 'A' makes a petition claiming 'B' as insolvent. (i) Can a partner make such petition against another? Reasons. (ii) When can such petition be filed?
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2. (b) 'A' a creditor presents an insolvency petition without any proof as to his right to present petition. (i) What will be the fate of petition? Why? (ii) What are the grounds for dismissal of petition by creditor? Any two.
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3. (c) A debtor is adjudicated as insolvent. (i) What are disqualifications of insolvent? (ii) When these disqualifications are removed?
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Q.4 Q.4: Answer in detail any four (48 Marks - 12 marks each)

1. (a) Explain the position of secured creditor under insolvency Law.
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2. (b) Discuss the provisions relating to interim receiver in detail.
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3. (c) Provable and Non-Provable debts under the P.I. Act, 1920. Write in detail.
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4. (d) Discuss in detail proceedings and order on creditors petition under P.T.I. Act, 1909.
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5. (e) Explain the cases where . absolute discharge under P.T.I. (the photograph is torn here)
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