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State of Rajasthan - Section

Section 458 in Rajasthan Insolvency Rules

458. Summary administration of an estate.

- When an estate is ordered to be administered in a summary manner under section 74 of the Act, the provisions of the Act and Rules shall, subject to any special direction of the court, be modified as follows, namely: -
(i)There shall be no advertisement of any proceeding in the official gazette or local paper. But the court shall publish a notice (F. 55) of the adjudication of insolvence, the annulment thereof, and of any application made for discharge, by beat of drum and by affixing a copy at the residence of the insolvent and in the court house.
(ii)The petition and all subsequent proceedings shall be endorsed "summary case".
(iii)The notice of the hearing of the petition so the creditors shall be in Form No. 41 in Appendix B.
(iv)The court shall examine the debtor as to his affairs but shall not be found to call a meeting of creditors, but the creditors shall be entitled to be heard and to cross-examine the debtor.
(v)The appointment of a Receiver will often not be necessary, and the court may act under section 58 of the Act in order to reduce the cost of the proceedings.
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