Provincial Insolvency Act, 1920

 

Provincial
Insolvency Act

(V of 1920)


5.2(I)
clause (e) “Secured creditor meaning of

A secured creditor means a person how
mortgage, charge or lien on the property debtor or any part thereof as a
security for due to him from the debtor.

An attachment under the Civil Procedure has
only the effect of preventing a transfer property attached or of any interest
therein attachment does not create in favour of the judgment-creditor any
mortgage, charge or lien over attached property which would entitle the
judgment creditor to claim to be a secured creditor in respect of the attached
properties.

Chandpur Mills
Ltd Vs. Economic Aid Corporation (1959) 11 DLR 459.

 

S. 17: Proviso: Proviso to section 17 the
Insolvency Act gives the secured creditor authority to realise or otherwise
deal with the security independent of the winding up proceeding.

Uttara Bank.
vs.  M/S Rahman Biscuit Factory Ltd. (1980)
32 DLR 45.

 

S.51. The
position of an attaching creditor under the Company’s Act is similar to that a
Provincial Insolvency Act.

Chandpur Mills
Ltd Vs. Economic Aid Corporation (1959) 11 DLR 459.

 

Provisional
Constitution Order 1969: Article 5(c): After promulgation of the Provisional Committee.
Constitution Order, High Court has no power to call in question any finding,
judgment or order of a Military Court—Constitution abrogated, keeping a part
alive—provision of Martial Law Regulation or Orders prevails over the
Constitution.

Miss Khadja
Bibi Vs. The State, (1969) 21 DIR 618.

 

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