R. Thakordas v. B.P. Warah

IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN ITS INSOLVENCY JURISDICTION

OFFICIAL ASSIGNEE'S REPORT NO.121 OF 2006 IN PETITION NO.78 OF 1948

Re: Bhagwandas P. Warah ..Insolvent. Ex-parte : Ramniklal Thakordas

..Petitioning Creditor.

Mr. Y.C. Parikh, Official Assignee present.

CORAM: DR. D.Y. CHANDRACHUD, J. 19th December, 2006.

P.C. :

The Official Assignee has sought permission to declare

further dividend to the unsecured creditors of the Insolvent. An order of adjudication was passed on 15^th February, 1949. The first dividend was declared on 13^th December, 1956 @ 0.100 paise in a rupee to the preferential creditors and @ 0.06 paise in a rupee to the unsecured creditors. A further dividend @ 0.07 paise in a rupee was declared on 10^th November, 1960. A further dividend @ 0.39 ½ paise in a rupee was declared on 23^rd August, 2000. No further recovery is possible. The balance lying in the account is of Rs.63,464.01 as against unsecured liability of Rs.5,28,137/-. The Official Assignee proposes to declare further dividend. The report is made absolute in terms of prayer clause (a).