The High Court of Bombay, Bombay Bench, allowed a Notice of Motion filed by the insolvent for annulment of the order of adjudication under Section 21(1) of the Presidency Town Insolvency Act, 1909, after the Official Assignee stated that debts were paid in full.
The order of adjudication dated 5.10.2004 is hereby annulled.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
IN INSOLVENCY
NOTICE OF MOTION NO. 3 OF 2008
IN
PETITION NO. 129 OF 2004
Re: Jayant Chunilal
Ghelani ..Insolvent
Ex-parte :
Jyotindra V. Shah ..Petitioning Creditor
Mr. Jayant Gaikwad i/b. Mr. Ajay Kandhar & Co. for
the Insolvent.
Mr. Y. C. Parikh, Official Assignee, present.
CORAM : S. A. BOBDE, J.
DATE : 5TH AUGUST, 2008.
P.C.
. Heard.
2. This Notice of Motion has been taken out by
the Insolvent for annulment of order of adjudication
under Section 21(1) of the Presidency Town
Insolvency Act, 1909. The Official Assignee appears
and states that the debts of the insolvent have been
paid in full and that he has lodged the receipt of
such payment in the office of the Official Assignee.
He has therefore no objection to the annulment of
the adjudication. Hence, order of adjudication dated
5.10.2004 is hereby annulled. Notice of Motion is
allowed in terms of prayer clauses (a) and (b).
(S. A. BOBDE, J.)
1 issue framed by the court
Whether the order of adjudication in an insolvency proceeding should be annulled when debts are paid in full.
1 provisions across 1 enactments
Jayant Chunilal Ghelani
S. A. Bobde
As recorded by the court registry
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