Optional Papers (Any two): a. Bankruptcy and Insolvency Laws
Guru Gobind Singh Indraprastha University · LL.B. Semester 6 · LLB 308
Unit 1 — Concept of Insolvency and Bankruptcy
a. The concept of insolvency; Inability to pay debt; Comparison between English and Indian Insolvency and Bankruptcy law. · b. Acts of Insolvency: Transfer of property to a third person for benefit of creditors; Transfer with intent to defeat the creditors; Fraudulent preference in transfer of property.
Unit II — Insolvency Petition and Procedure of Court
a. Definition; Jurisdiction and power of Court; Insolvency petition by creditors; Insolvency petitions by debtor; · b. Contents of the petition; Admissions of petitions; Procedures of the Courton petitions; Adjudication as Insolvent; · c. Imprisonment in execution of adecree of a Court; Appointment of interim receiver; Interim proceedings against the debtor.
Unit III — Duties of Debtor/ Effect of Insolvency
a. Duties of debtors and Interim proceedings against the debtor; Offences by debtors; Release of debtor; Discharge of debtor; Indigent persons; Suits by indigent persons; Procedure at hearing; Dismissal of petitions filed by a creditors. · b. Effect of insolvency on antecedent transaction; rights of creditor sunder execution; Duties of Court executing decree on the property taken in execution; Avoidance of voluntary transfer.
Unit IV — Adjudication and Consequences
a. Order of Adjudication; Effect and publication of order; Proceedings, Consequent on order of Adjudication; · b. Protection order from arrest or detention; Burden of Creditors to prove the debt; Annulment of Adjudication, power to annul, failure to apply for discharge; · c. Post adjudicatory scheme for satisfaction of the debt; Discharge of debtor; Distribution of property, priority of debts; offences by debtors, Appeal