http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 1 of 15
PETITIONER: MUKTI LAL AGARWALA
Vs.
RESPONDENT: TRUSTEES OF THE PROVIDENT FUND OFTHE TIN PLATE CO. OF INDIA
DATE OF JUDGMENT: 14/02/1956
BENCH: AIYAR, N. CHANDRASEKHARA BENCH: AIYAR, N. CHANDRASEKHARA BOSE, VIVIAN IMAM, SYED JAFFER
CITATION: 1956 AIR 336 1956 SCR 100
ACT: Provincial Insolvency Act, 1920 (V of 1920), s. 4-Insolvency of employees of a company-Having certain amounts standing to their credit in the Provident Fund of the said company- Whether the said amounts were the properties of the insolvents over which they had disposing power and were thus available for distribution amongst the creditors-Provident Fund-Rules-Construction-Word "Property" in the Insolvency Act-Meaning of.
HEADNOTE: The six employees in the Tin Plate Co. of India Ltd. were adjudged insolvents. They were members in a Provident Fund of the said company, having certain amounts standing to their credit in the Fund. The appellants creditor of the said employees-filed applica- tions under s. 4 of the Insolvency Act against the company and Trustees of the Fund for orders that amounts standing to the credit of the insolvents in the Provident Fund account were their properties and had vested in the court and were available for distribution amongst the creditors and therefore should be brought into court. The respondent pleaded in answer that the amount standing to the credi...