The Bombay High Court annulled an order of adjudication under the Presidency Towns Insolvency Act, 1909, allowing the insolvent to seek reinstatement based on full payment by the judgment debtor.
Motion for annulment of the order of adjudication made absolute.
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jpc/-
IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION
NOTI CE OF MOTION NO. 39 OF 2010 IN
INSOLVENCY PETITION NO. 28 OF 2000
Re. M/s Kamdar Sales Corporation & ors. A partnership firm- Judgment Debtor
Rasilaben Rasiklal Shah .. Judgment Creditor
And:
Rasilaben R. Shah .. Supporting Creditor
Ms. S. Pareekh i/byKiran Jai & Co. for the Petitioning Creditor Mr. Pravit K. Mishra i/by K. S. Mishra for the Insolvent
CORAM : S. J. KATHAWALLA, J. DATE : 6th May, 2010 P.C.:
1. By this Notice of Motion, the insolvent is seeking annulment of the order of adjudication dated 4th February, 2003 under Section 21(1) of the Presidency Towns Insolvency Act, 1909 on the ground of full payment. The official assignee has informed the Court that all the receipts acknowledging payments have been received by him from the Creditors except two receipts of Rs.50,000/- and Rs.60,000/- from Mr. Chandrakant Shah, the petitioning creditor.
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2. The learned Advocate appearing for the Petitioning Creditor states Mr. Chandrakant Shah has received the said amounts of Rs.50,000/- and Rs.60,000/-.
3. In view thereof, the motion is made absolute in terms of prayer clause (a).
( S. J. KATHAWALLA, J.)
1 issue framed by the court
Whether the insolvent is entitled to annulment of the order of adjudication on the ground of full payment despite outstanding receipts from the petitioning creditor.
1 provisions across 1 enactments
M/s Kamdar Sales Corporation & ors.
Rasilaben Rasiklal Shah
Rasilaben R. Shah
S. J. Kathawalla
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
