BUDHSEN Vs. ASHARFI LAL

JUDGEMENT

(1.) This is a second appeal from an order of the learned District Judge of Bareilly in an insolvency matter. The appellant was declared insolvent, and finally a scheme was propounded by the Official Receiver, which scheme received the approval of the Insolvency Court and of the District Judge in appeal.

(2.) Learned Counsel for the appellant has contended that in the scheme a higher rate of interest is allowed on the debts than is permissible under the provisions of the Provincial Insolvency Act. In the view we take of this case, it is not necessary for us to make any pronouncement upon this point. Learned Counsel for the respondents took the preliminary plea that no appeal lay to this Court. In support of this contention he referred to the pro-visions of Section 75, Provincial Insolvency Act, Section 75(1) provides that: The debtor, any creditor, the receiver or any other person aggrieved by a decision come to or an order made in the exercise of insolvency jurisdiction by a Court subordinate to a District Court may appeal to the District Court, and the order of the District Court upon such appeal shall be final.

(3.) Section 75 further provides however that any such person aggrieved by a decision of the District Court on appeal from a decision of a Subordinate Court under Section 4 may appeal to the High Court on any of the grounds mentioned in sub Section (1) of Section 100, Civil P.C. For a certain class of oases, provision is made for a second appeal to the High Court. The terms of Section 4, Provincial Insolvency Act, are very wide. Sub-section (1) is as follows: Subject to the provisions of this Act, the Court shall have full power to decide all questions whether of title or priority or of any nature whatsoever, and whether involving matters of law or of foot, which may arise in any case of insolvency coming within the cognizance of the Court, or which the Court may deem it expedient or necessary to decide for the purpose of doing complete justice or making a complete distribution of property in any such case.