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Mahadeva Vs. Kuppusami - Court Judgment

LegalCrystal Citation
SubjectCivil
CourtChennai
Decided On
Judge
Reported in(1892)ILR15Mad233
AppellantMahadeva
RespondentKuppusami
Excerpt:
civil procedure code, section 356 - insolvency proceedings--receiver, commission of how computed. - 1. we are of opinion that the receiver is entitled to remuneration at the rate fixed by the late subordinate judge, but for the amount of that fee, he is only entiled to a lien to the extent of 5 per cent, upon the sum remaining as net assets after the charges specified in clauses (b), (c) and (d) of section 356 have been paid. the question whether the opposing creditor's claim is a debt secured by mortgage is not before us. see ex parte browne in re maltby l.r. 16 ch. d. 497
Judgment:

1. We are of opinion that the receiver is entitled to remuneration at the rate fixed by the late Subordinate Judge, but for the amount of that fee, he is only entiled to a lien to the extent of 5 per cent, upon the sum remaining as net assets after the charges specified in Clauses (b), (c) and (d) of Section 356 have been paid. The question whether the opposing creditor's claim is a debt secured by mortgage is not before us. See ex parte Browne in re Maltby L.R. 16 Ch. D. 497


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