Travancore-Cochin Insolvency Act, 1956

No: 2 Dated: Feb, 21 1956

Travancore-Cochin Insolvency Act, 1956

Act No. II of 1956

An Act to consolidate and amend the law relating to insolvency.

Preamble:- Whereas it is expedient to consolidate and amend the law relating to insolvency;

Be it enacted in the Sixth Year of the Republic of India as follows:-

1. Short title, extent and commencement.-(1) This Act may be called the Travancore-Cochin Insolvency Act, 1956

(2) It extends to the whole of the State of Kerala.

(3) It shall come into force on ,such date as the Government may, by notification in the Gazette, appoint.

2. Definitions.- (1) In this Act, unless the context otherwise requires,

 (a) "Collector" means the Chief Officer in charge of the revenue administration of the district and includes an acting or officiating Collector and also any officer appointed by the Government to exercise the functions of the Collector;

(b) "creditor" includes a decree-holder, "debt" includes a judgment-debt, and "debtor" includes a judgment-debtor;

(c) "District Court" means the principal Civil Court of original jurisdiction;

(d) "prescribed" means prescribed by rules made under this Act;

(e) "property" includes any property over which or the profits of which any person has a disposing power which he may exercise for his own benefit;

(f) "secured creditor" means a person holding a mortgage, charge or hen on the property of the debtor or any part thereof as a security for a debt due to him from the debtor;

(g) "State" means the state of Kerala 

(h) "transfer of property" inchides a transfer of any interest in property and the creation of any charge upon property.

(2) Words and expressions used in this Act and defined in the Code of Civil Procedure, 1908, and not hereinbefore defined shall have the same meanings as those respectively attributed to them by the said Code.