Provincial Insolvency act, 1920
pratik
(Querist) 16 March 2010
This query is : Resolved
As per the Partnership Act, 1932 if the patnership firm is not registered than the third party cannot have a law proceedings against the firm or any parnter of the firm and vice - versa.
But as per Provincial Insolvency act, 1920 if the working,seelping partner or any partner has become insolvent than to realise the property for the firm can the parnter who has become a insolvent partner fill a suit in the court or under the arbirtation act because as the partnership firm is not registered as per the act, 1932.
But I have a came across the below mentioned line which say as follows :
Non - registration of a firm does not affect the right of third parties against the firm or its parnters, or the power of an official Assigns, Receiver of court under the Provincial Insolvency act, 1920 or Provincial Insolvency act, 1909 to realise the property of an insolvent parnter.
If an case laws that pls forwared it to me or with the best suitable examples .
By reading the above mentioned line we can come to a conclusion that if the partnership firm is ot registered as per the act, 1932 than also the insolvent partner can claim her/his property for the firm means he can file a suit under the firm firm name or under the individual partners name also.
Pls clarify me if i am wrong.
Also pl tell me that Which act is in force whether Provincial Insolvency act, 1920 or Provincial Insolvency act, 1909 ?
Query regarding the income tax act, 1961 & applicablity of the Civil procedure code, 1908.
2)As per section 60 of the CPC Civil Procedure code, 1908 says which values or assets are not liable for the attachment that method should be followed by the officer under the income tax act, 1961 so why CPC orders form 1 to 50 cannot apply to the income tax proceedings which is between the A.O. or any higher authority of it.
Pls forward me any notes regarding the abovemntioned topics or act.
Email Id: vyas_pratikca@yahoo.com
Thanks TO The All Experts in advance as there valueable time has been spend on answering the abovementioned queries.
