Section 71 in Presidency-towns Insolvency Act, 1909
71. Calculation of dividends.
(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.(2)Subject to the provisions of sub- section (1), all money 1 in hand] shall be distributed as dividends.
