Elaborate discussion

1. WELCOME TO MY
PRESENTATION

2. Business Law : 233
Prepared By-
Ahmed Sharif Khan
ID:BBAW2016000284
Faculty of Business Administration
E-mail: abdunnoor540@gmail.com

3. The Law of Insolvency
What is Insolvency ?
According to popular usage an insolvent is one who is unable to pay
his debts.
But no man can be called “insolvent” unless a competent court
declares him an insolvent .

4. Insolvency Legislation
The law relating to insolvency in India is contained in two statues:
The Presidency Towns Insolvency Act of 1909.
The Provincial Insolvency Act of 1920.
The former applies to the presidency towns, i.e., to Calcutta ,
Bombay , Madras
Then tatter applies to all areas

5. The object of insolvency legislation
Protection of debtors .
Safeguarding as far as possible, the interests of creditors .
1. Distribution of insolvent’s property
2. Cancellation of debts and removal of disqualifications
3. Benefits to creditors
4. Fresh start in life by debtors

6. When can a person be declared Insolvent
I. He must a debtor
II. The debtor has committed an act of insolvency

7. Who can be declared Insolvent
• Minor
• Lunatic
• Women
• Foreigner
• Joint Debtors
• Deceased Person
• Companies
• Convict