Amendment status not verified — confirm the current text below against the official source.
Summary a.dmtmstratwn When a petitwn is presented by or agamst a debtor, if the Court is satisfied by affidavit or otherwise that the property of the debtor is not likely to ex~eed m value five hundred rupees, the Court may make an order that the debtor's estate be administered in a summary manner, and thereupon the provisiOns of this Act shall be subject to the followmg modtficatwns namely:- ( i) unless the Court otherwise directs, no notice reqmred under this Act shall be published m the Gazette; ( 1i) on the admissiOn of a petitiOn by a debtor, the property of the debtor shall vest m the Court as a receiver· ' (iii) at the hearing of the petitiOn, the Court shall inqmre mto the debts and assets of the debtor and determine the same by order m wnting, and It shall not be necessary to frame a ~chedule under the provisiOns of Section 34; I _ _) 41 (iv) the property of the debtor shall be re~hsed wi.th all reasonable despatch and thereafter, when practicable, dis- tributed m a smgle dividend; (v) the debtor shall apply for lus discharge w1thm six months from the date of adjudication; and (vi) such other modifications as may be prescribed with the view of saving expense and simphfymg procedure: Provided that the Court may at any time direct that the ordinary procedure provided for m this Act shall be followed m regard to the debtor's estate, and thereafter the Act, shall have effect accordingly. PART VI APPEALS