Law of Insolvency (Old Edition)

The law of Insolvency has gained greater importance in recent times. The growing volume of case-law on the subject shows a trend towards increase in the number of businesses going insolvent in today’s highly competitive environment and open market economy. In the present scenario, the author feels that more demands are going to be placed on the law of insolvency for protecting sinking businessmen, and safeguarding their lenders. 

The topic wise chapters cover and lucidly explain the various aspects of the law of Insolvency viz. - object of insolvency laws, acts of insolvency, who can be adjudged insolvent, constitution and powers of courts under the Act and the various provisions pertaining to the filing of petitions, proceedings in insolvency cases, the administration of property, methods of proof of debts, Antecedent Transactions, penalties for offences under the Acts, summary administration, the appointment and removal of Official Assignee and his duties and powers, the Doctrine of Reputed Ownership etc. 

The judiciary has made important contribution to the development of the law on the subject and a number of important decisions have touched upon such important issues such as requirements of an insolvency notice, the role of dishonour of cheques, the duty of the person who himself seeks that he should be declared an insolvent, the importance of voluntary arrangements, the doctrine of reputed ownership, etc. etc. The author has dealt with all these matters in a most succinct manner. 

The author’s style is simple and lucid and makes easy reading. A Table of Cases and a detailed subject-index add to the utility of the book. In the Appendices, the full text of the Provincial Insolvency Act, 1920 and the Presidency Towns Insolvency Act, 1909 is given.