S. 37 Provincial Insolvency Act

The Supreme Court clarified the effect of annulment of insolvency proceedings on transactions carried out during the insolvency period. The case arose from a long-standing dispute over the shareholding in a partnership firm, M/s Gavisiddheshwara & Co., originally formed in 1963. After the death of one of the partners in 1975, his son (the appellant)…

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