AIR 1963 MADRAS 156 ::1975 MadLW 713 ::(1962) 2 MadLJ493 ::ILR (1963) Mad 1

Madras High Court

Hon'ble Judge(s): S. Ramachandra Iyer , C.J. AND Veeraswami, Ramakrishnan , JJ

(A) Provincial Insolvency Act (5 of 1920) , S.20— Interim Receiver - Powers of - Sale in execution of decree against insolvent - Interim Receiver directed by Court to take possession of insolvent debtor's property - He can apply under O.21, R.90, Civil P.C. to set aside sale. AIR 1943 Mad 199, Overruled. In a case where on an application made by a creditor to adjudicate his debtor an insolvent against whom a decree already obtained by another creditor is being executed by sale of his property, an interim Receiver is appointed under S. 20 of the Provincial Insolvency Act, subsequent to the date of the execution sale, as well as in a case where he has been appointed before, it is competent to the insolvency Court to clothe the Receiver with the authority to take proceedings under O. 21, Rule 90 Civil P.C. to set aside the sale. Such authority can be given expressly or even impliedly and if such Court directs the interim Receiver to take charge of the property which had been sold (the sale not having been confirmed), he would have authority to institute all necessary proceedings to retain the property and thereby make the title of the debtor more perfect. (B) Provincial Insolvency Act (5 of 1920) , S.20— Interim Receiver - Purpose in appointment of. ....