Section 71(1) in Presidency-towns Insolvency Act, 1909
(1)In the calculation and distribution of dividends, the official assignee shall retain 2 in his hands] sufficient assets to meet-(a)debts provable in insolvency and appearing from the insolvent' s statements or otherwise to be due to persons resident in places so distant that in the ordinary course of communication they have not had sufficient time to tender their proofs;(b)debts provable in insolvency the subject of claims not yet determined;(c)disputed proofs or claims; and(d)the expenses necessary for the administration of the estate or otherwise.
