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Report No. 26 99. Jurisdiction to decide questions.-(1) Subject to the provisions of this Act, the court shall have full power to decide all questions whether of title or of priority or of any nature whatsoever, and whether involving matters of law or of fact, which may arise in any case of insolvency coming within the cognizance of the court, or which the court may deem it necessary or proper to decide for the purpose of doing complete justice or making a complete distribution of property in any such case: Provided that where the matter in dispute involves the determination of complicated questions of fact or law, the court may refer the parties to a civil court for adjudication of the same: [Section 4(1), P.A.] [Cf. section 7, main para., P.T.A.] Provided, further, that the jurisdiction hereby given shall not be exercised for the purpose of adjudicating upon any claim not arising out of the insolvency, unless all parties to the proceeding consent thereto or the money, money's worth, or right in dispute does not, in the opinion of the court, exceed in value five thousand rupees. [New] [Cf. section 7, proviso, P.T.A. and Mulla's comment thereon (p. 22 bottom and pp. 39-43, 50) Cf. section 105(1), proviso, English Act.] (2) Subject to the provisions of this Act, and notwithstanding anything contained in any other law for the time being in force, every such decision shall be final and binding for all purposes as between, on the one hand, the insolvent and the insolvent's estate and, on the other hand, all claimants against him or against it and all persons claiming through or under them or any of them. [Section 4(2), P.T.A.]    |
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