The court allowed the insolvency petition filed by the petitioning creditor against the debtors. The petitioner demonstrated justly and truly indebted debt and an act of insolvency via non-compliance with the insolvency notice.
Order of adjudication passed against the debtors.
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 PETITION NO. 8 OF 2011
Re : Hiralal Balu Tikhe and Anr.
….. Debtors. Ex-parte : Ghisalal Chunilal Shah. .…. Petitioning Creditor.
Mr. Ramesh Jain for Petitioning Creditor. Mr. S. Nagvedria i/b. Bafna Law Associates for Debtor No.2. Debtor No.1 absent.
CORAM : S.J. KATHAWALLA, J. DATE : FEBRUARY 7, 2012.
P.C. :-
By this Petition, the Petitioning creditor has prayed that an order of adjudication be passed against the debtors. According to the Petitioner, the debtors are justly and truly indebted to the petitioning creditor in the sum of Rs.1,83,194.52 ps. being an amount due under Decree/Order dated 30th June 2010 passed by the Bombay City Civil Court at Bombay in Summary Suit No. 1854 of 1997 and further interest on Rs.50,000/- at 18% per annum from 25th October 2010 till payment.
Insolvency Notice. The debtors, have therefore, committed an act of insolvency on 18th January 2011.
1 issue framed by the court
Whether the petitioning creditor is entitled to an order of adjudication against the debtors for committing an act of insolvency.
Ghisalal Chunilal Shah
Hiralal Balu Tikhe and Anr.
S.J. Kathawalla
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
