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[Cites 0, Cited by 0] [Section 39] [Entire Act]

State of Kerala - Subsection

Section 39(5) in Kerala Insolvency Act, 1955

(5)If any facts are proved on proof of which the Court would be required either to refuse, suspend or attach conditions to the debtor's discharge, the Court shall refuse to approve the proposal unless it provides reasonable security for payment of not less then thirty-seven naye paise in the rupee on all the unsecured debts provable against the debtor's estate.