Section 29(5) in Presidency-towns Insolvency Act, 1909
(5)Where 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 than four annas in the rupee on all the unsecured debts provable against the debtor' s estate.
