sell all or any part of the property of the insolvent;

give receipts for any money received by him;

carry on the business of the insolvent so far as may be necessary for the beneficial winding up of the same;

institute, defend or continue any suit or other legal proceeding relating to the property of the insolvent;

employ a pleader or other agent to take any proceedings or do any business which may be sanctioned by the Court;

accept as the consideration for the sale of any property of the insolvent a sum of money payable at a future time subject to such stipulations as to security and otherwise as the Court thinks fit;

mortgage or pledge any part of the property of the insolvent for the purpose of raising money for the payment of his debts;

refer any dispute to arbitration, and compromise all debts, claims and liabilities, on such terms as may be agreed upon; and

divide in its existing form amongst the creditors, according to its estimated value, any property which, from its peculiar nature or other special circumstances, cannot readily or advantageously be sold.

[59-A. Power to require information regarding insolvents property [Inserted by Act 39 of 1926, Section 4.]

(1)

The Court, if specially empowered in this behalf by an order of the State Government, or any officer of the Court so empowered by a like order, may, on the application of the receiver or any creditor who has proved his debt, at any time after an order of adjudication has been made, summon before it in the prescribed manner any person known or suspected to have in his possession any property belonging to the insolvent, or supposed to be indebted to the insolvent, or any person whom the Court or such officer, as the case may be, may deem capable of giving information respecting the insolvent or his dealings or property, and the Court or such officer may require any such person to produce any documents in his custody or power relating to the insolvent or to his dealings or property.

(2)

If any person so summoned, after having been tendered a reasonable sum, refuses to come before the Court or such officer at the time appointed, or refuses to produce any such document, having no lawful impediment made known to and allowed by the Court or such officer, the Court or such officer may, by warrant, cause him to be apprehended and brought up for examination.

(3)

The Court or such officer may examine any person so brought before it or him concerning the insolvent, his dealings or property, and such person may be represented by a legal practitioner.]