Insolvency Act - Meaning of "Debt"

G. ARAVINTHAN (Querist) 18 March 2009 This query is : Resolved
Is due to government(e.g. due in payment of sales tax, income tax) comes under the meaning "Debt " under the Provincial Insolvency Act?

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G. ARAVINTHAN (Querist) 18 March 2009
The section 61 of the Act is not clear

PALNITKAR V.V. (Expert) 18 March 2009
I think Sec. 61 is clear since it includes all government dues in its ambit.

RAKHI BUDHIRAJA ADVOCATE (Expert) 18 March 2009
I do agree with my ld. friends.

Shashikant V. Patil (Expert) 19 March 2009
Debt is debt which is a due payable or payable in future covered under Sec 61 as stated by Mr. Palnitkar.

G. ARAVINTHAN (Querist) 19 March 2009
Thanks but any reference please

G. ARAVINTHAN (Querist) 19 March 2009
Some citations can do

Hiralal Das (Expert) 04 April 2009
I agree with the opinions of my learned members friend. You may follow them which should be better to solve the problem.

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Insolvency Act - Meaning of "Debt"

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