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1 - 3 of 3 (0.37 seconds)The Provincial Insolvency Act, 1920
Racharla Narayanappa vs Kondigi Bheemappa And Ors. on 23 September, 1925
2. The mere fact that the debtor has large properties is no ground for holding that he is able to pay his debts. A man may have property but he may be unable to raise money to pay his debts and therefore the Court is not entitled to come to the conclusion that the man is unable to pay his debts because he has got properties the value of which is more than that of his debts he has to pay. This point was decided so long ago as 23rd September, 1925, in a case reported in Narayanappa v. Bheemappa (1925) 24 L.W. 219 In holding an enquiry under Section 24 a Court is not entitled to consider whether the debtor has committed acts which would make him liable under the penal provisions of the Insolvency Act. In this case two issues were raised, issues Nos. 3 and 4, by the Subordinate Judge, which are as follows:
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