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asked 2018-12-08 00:17:27 -0600

TajParamor gravatar image

M a partner of a firm executed it deed of gift in October, 1957 of a property, which was not partnership property. The deed of gifts was registered in March 1958. In April, May, 1958 and January 1959, petitions were filed alleging that the firm and its two partners had committed acts of insolvency and therefore, they should be declared insolvents. The lower courts adjudicated the firm and the partners insolvent. The High Court, in revision, confirmed the adjudication of insolvency with regard to the firm and M, but set aside with regard to the other partner. In appeal to this Court it was contended that (i) the starting point of the three months' period prescribed under s.

9(i)(c) of the Provincial Insolvency Act should be the date of execution of the deed of gift and not the date of registration

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