Sicom Ltd. v. N.C. Malhotra and Anr.
Case brief
What is this about?
This court allowed an insolvency petition filed by SICOM Ltd. against N. C. Malhotra on the basis of an existing decree and evidence of an act of insolvency, noting the debtors' absence.
What the court decided
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
IN INSOLVENCY
PETITION NO.8 OF 2006
Re: N. C. Malhotra & anr. ..Debtors.
Ex parte : SICOM Ltd.
.. Petitioning Creditor.
Mr. P. V. Shah for the Petitioning Creditor. Debtor absent though served.
CORAM: DR. D.Y. CHANDRACHUD, J. 3rd October, 2006.
P.C. :
The Insolvency Petition is based on a decree of this Court dated 3rd December, 2002 in Summons for Judgment 131 of 2001 in Summary Suit 4124 of 2000. An amount in excess of Rs.3.03 Crores was due and payable under the decree as quantified in Insolvency Notice dated 17th October, 2005. The Insolvency Notice was duly served on the Debtors and the act of insolvency was complete on 31st January, 2006. The Insolvency Petition has been duly served and an affidavit of service has been filed. There is no reply to the Petition and the Debtors have failed to appear. In the circumstances, the Insolvency Petition has to be
Issues for consideration
1 issue framed by the court
Whether the insolvency petition based on an unserved debtor and complete act of insolvency should be allowed.
Parties & counsel
- applicant
SICOM Ltd.
- respondent
N. C. Malhotra
Coram
DR. D.Y. CHANDRACHUD
Case details
As recorded by the court registry
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