Topic: Section 18 A. Control over insolvency proceedings in subordinate Court
[Control over insolvency proceedings in subordinate Courts. (1) The Court may, at any time after the presentation of an insolvency petition, stay any insolvency proceedings pending against the debtor in any Court subject to the superintendence of the Court, and may, at any time after the making of an order of adjudication, annul an adjudication against the debtor made by any such Court.
(2) Where an adjudication is annulled under sub-section (1), all sales and dispositions of property and payments duly made and all acts done by the Court whose order is annulled, or by the receiver appointed by it or other person acting under his authority, shall be valid, but the property vested in such Court or receiver shall vest in the official assignee, and the Court may make such direction in regard to the custody of such property as it thinks fit.
(3) Notice of the order annulling an adjudication under subsection (1) shall be published in the Official Gazette and in such other manner as may be prescribed.]