suing as a partner in a firm against the firm or any person alleged to be or to have been a partner in the firm ... towns Insolvency Act, 1909 (3 of 1909) or the Provincial Insolvency Act, 1920 (5 of 1920) to realise the property of an insolvent partner
Insolvency of a partner.—
(1) Where a partner in a firm is adjudicated an insolvent he ceases to be a partner on the date ... under a contract between the partners the firm is not dissolved by the adjudication of a partner as an insolvent, the estate of a partner
partners had committed acts of
insolvency and therefore they should be declared insolvents.
The firm and its partners contested the petitions and
asserted that they ... Committed any acts of insolvency.
All the three insolvency petitions were consolidated
together and were heard by the Insolvency Judge, Varanasi
who by his judgment
death of a partner; and (d) by the adjudication of a partner as an insolvent.
This case is governed by Clause ... under the Presidency Towns Insolvency Act, 1909 , or the Provincial Insolvency Act, 1920 , to realise the property of an insolvent partner,
without any hindrance created
operation of law upon adjudication of all partners or all but one partner as insolvents. Under Section 41(b) the firm is dissolved upon ... partners, a firm is dissolved, inter alia, upon the death of a partner or by the adjudication of a partner as an insolvent
partners in a firm may, be contact, between the partners extend to restrict the implied authority of any partner. Any act done by a partner ... restriction or does not know or believe that partner to be a partner. Every partner of the firm shall have to share the liabilities
between the partners, a firm is
dissolved by the death of a partner or by the adjudication of a partner as an
insolvent. If, under ... partner. Such
cessasion may either be because of the death of a partner or because of
adjudication of a partner as an insolvent or because
partner. Any person cannot be introduced as a partner without the consent of all the existing partners. Such introduction of a new partner shall ... partners thereof may change or alter according to the wish and desire of the partners. The adjudication of a partner as an insolvent
Assignee, or, an Official Receiver to realise the property of an insolvent partner. In other words, the clause says that if there is an insolvent ... that when the section speaks of realising the property of the insolvent partner, it has in its contemplation anything other than the realisation through
after one of the partners had been adjudicated insolvent and the Insolvency Court, in which the insolvent's property vested, had not been made ... sanction of the Insolvency Court. What vested in the Insolvency Court was merely the share of the insolvent partner which he would be entitled
