Section 30: Order on approval — Insolvancy (Karachi Division) Act, 1909

Current legal status not independently verified — Source: Pakistan Code (single official PDF, 2026-08-21). Whether this provision is still in force has not been independently verified.

Discuss this provision with AI

30. Order on approval.—(1) If the Court approves the proposal, the terms shall be embodied in an order of the Court, and an order shall be made annulling the adjudication, and the provisions of section 23, sub-sections (1) and (3), shall thereupon apply, and the composition or scheme shall be binding on all the creditors so far as relates to any debt due to them from the insolvent and provable in insolvency. (2) The provisions of the composition or scheme may be enforced by the Court on application by any person interested, and any disobedience of an order of the Court made on the application shall be deemed a contempt of Court.

Effective date: 1909-01-01

Related sections

Section 29: Approval of proposal by Court Section 31: Power to re-adjudge debtor insolvent Section 28: Submission of proposal and acceptance by creditors Section 32: Limitation of effect of composition or scheme. Notwithstanding the acceptance and Section 27: Public examination of the insolvent Section 33: Duties of insolvent as to discovery and realization of property

Version insolvancy-karachi-division-act-1909~PK-FED~base · Source-traceable official reference. LawHub does not modify the official record.