Provincial Insolvency Act, 1920 — Section 37 — Proceedings on annulment — The validity of acts done by a court or receiver before annulment of adjudication of insolvency depends on whether the sales and dispositions of property and payments made were “duly made.” If these acts are found to be not duly made, Section 37 will not protect them.
2025 INSC 1159 SUPREME COURT OF INDIA DIVISION BENCH SINGAMASETTY BHAGAVATH GUPTHA AND ANOTHER Vs. ALLAM KARIBASAPPA (D) BY LRS./ALLAM DODDABASAPPA (D) BY LRS. AND OTHERS ( Before : Pamidighantam…