Amendment status not verified — confirm the current text below against the official source.
(1) Where during the pendency of the proceedings for winding up a chitty, the foreman or all the foremen, where there are more than one foreman, is or are adjudicated insolvent or insolvents or, where the foreman is a company, the company has been ordered to be wound up by the Court, the winding up proceedings under this Part shall cease and the distribution of the chitty assets shall, subject to the provisions contained in Sections 39 and 46, be made by the Insolvency Court or the Court winding up the company, as the case may be. (2) Where insolvency proceedings against the foreman are pending in different Courts, the High Court may transfer the proceedings from one Court to another as it may deem fit.