An insolvency petition where the debtor and petitioning creditor mutually settled the claim via consent terms. The High Court recorded the agreement and passed an order dismissing the petition without reserve.
Consent terms dated 17th June, 2008 were taken on record and an order was passed in terms thereof, disposing of the petition.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
IN INSOLVENCY
INSOLVENCY PETITION NO.20 OF 2007
Re.: Lucille V. Ayyar ..Debtor
Ex-parte:
Jitendra Harakchand Savla @
Jayesh Harakchand Savla ..Petitioning
Creditor
Ms.Lucille Ayyar, debtor present in person.
Mr.Sunil Kanojia i/by Kiran Jain & Co for petitioning
creditor.
CORAM: S.C.DHARMADHIKARIJ.
DATE : 17th June, 2008
P.C.
1. On the last occasion a statement was made by the
Debtor who was present in person that the claim against
the petitioning creditor is the only outstanding claim
against her. She took time to file an affidavit.
However, both sides have now sought an order in terms of
the consent terms. They stated that they have
negotiated a settlement of the claim. They pray that
the terms recorded by them mutually and signed by the
debtor as proprietress of M/s.Print Trade and the
petitioning creditor so also his advocate be taken on
record and an order be made in terms thereof.
2. Both sides confirmed the agreement as recorded in
the consent terms. They stated that the same is
:2:
recorded mutually and after fully satisfying themselves
with regard to the consequences that shall follow in
law, the same are arrived at willingly. In the such
circumstances, consent terms dated 17th June, 2008 are
taken on record and marked "X" for identification.
Order in terms of the consent terms.
(S.C.Dharmadhikari, J)
S.C. Dharmadhikari
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court