High CourtsSingle Bench

In Re: Mahomed Mahmud Shah, an Insolvent

Calcutta High Court · Decided on 3 March 1886 · Citation: (1886) ILR (Cal) 66

HON’BLE JUDGES
Norris, J
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Judgment

1 paragraphs · 80 words

Norris, J.—In this case I think the surplus assets in the hands of the Official Assignee, after payment of the debts in full, ought to be applied in payment of interest at 6 per cent, on contract debts which expressly or impliedly carry interest; and that the Official Assignee should retain his commission of five per cent, on the amount of such interest. The balance then remaining in the hands of the Official Assignee should be paid to the insolvent.