Provincial Insolvency Act,1920

Act No : 5

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Section : Power of Court to decide all questions arising in insolvency

4. Power of Court to decide all questions arising in insolvency.-(1) Subject to the provisions of this Act, the Court shall have fullpower to decide all questions whether of title or priority, or of anynature whatsoever, and whether involving matters of law or of fact,which may arise in any case of insolvency coming within the cognizanceof the Court, or which the Court may deem it expedient or necessary todecide for the purpose of doing complete justice or making a completedistribution of property in any such case. (2) Subject to the provisions of this Act and notwithstandinganything contained in any other law for the time being in force, everysuch decision shall be final and binding for all purposes as between,on the one hand, the debtor and the debtor's estate and, on the otherhand, all claimants against him or it and all persons claiming throughor under them or any of them. (3) Where the Court does not deem it expedient or necessary todecide any question of the nature referred to in sub-section (1), buthas reason to believe that the debtor has a saleable interest in anyproperty, the Court may without further inquiry sell such interest insuch manner and subject to such conditions as it may think fit.73

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