High Court judge in Bombay allowed a petitioning creditor to withdraw Rs. 4 lakhs immediately and the balance subject to proof that post-dated cheques deposited with ESIC were encashed and no claim exists against him.
Leave to withdraw Rs. 4,00,000/- immediately; balance allowed subject to ESIC confirmation of cheque clearance.
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mgj
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
Notice of Motion No.32 of 2009
in
Insolvency Petition No.80 of 1984
Re: M/s Sunshine Electric Co.
and ors ..Erstwhile
Insolvents
Exparte:
Virendra Kumar Jhamb ..Petitioning
Creditors
and
Mahinder Prakash Khanna ..Applicant
Mr.K.J.Somane for applicant
Mr.Y.C.Parikh, O.A. Present.
CORAM: S.J.KATHAWALLA J.
4th August, 2009
P.C.
1The Official Assignee shall
allowthe applicant to withdraw a sum of Rs.
4,00,000/- within a period of one week from
today. The applicant be allowed to withdraw
the balance after the applicant files a
letter with the Official Assignee from ESIC
stating that all the post dated cheques
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deposited with them by the applicant have
been encashed and ESIC has no claim against
the applicant. Liberty to apply.
2Notice of motion is accordingly
disposed of.
(S.J.KATHAWALLA J.)
M/s Sunshine Electric Co. and others
Virendra Kumar Jhamb
Mahinder Prakash Khanna
S.J.KATHAWALLA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court