law: Hire-Purchase Act, 1972
  25. Insolvency of
  
  hirer, etc.-
  (1) Where, during the continuance of the
  
  hire-purchase agreement, the hirer is adjudged insolvent under any law with
  
  respect to insolvency for the time being in force, the Official Receiver or
  
  where the hirer is a company, then in the event of the company being wound up,
  
  the liquidator, shall have in respect of the goods which are in the possession
  
  of the hirer under the agreement, the same rights and obligations as the hirer
  
  had in relation thereof.
  The Official Receiver or the liquidator, as
  
  the case may be, may, with the permission of the Insolvency Court or which the
  
  winding up proceedings are pending, assign the rights of the hirer under the
  
  agreement, to any other person, and the assignee shall have the rights and be
  
  subject to all the obligations of the hirer under the agreement.
  Explanation.- In this section,
  
  "Official Receiver" means an Official Receiver appointed under the
  
  Provincial Insolvency Act, 1920 (5 of 1920), and includes any person holding a
  
  similar office under any other law with respect to insolvency for the time
  
  being in force.