The court, in a notice of motion, allowed the applicant to annul the order of adjudication against him under Section 21(1) of the Presidency-towns Insolvency Act, 1909, based on proof that all creditors were paid in full.
The Notice of Motion to annul the order of adjudication is made absolute.
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IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN INSOLVENCY NOTICE OF MOTION NO. 36 OF 2012 IN
PETITION NO. 24 OF 2005
Re :Mayur Narendra Chandra …. Insolvent No.1/Applicant. Ex-parte : Mandvi Co-operative Bank Ltd. …. Petitioning Creditors.
Mr. U.S. Borade for Insolvent No.1/Applicant.
Mr. M.D. Narvekar, Official Assignee present.
CORAM : S.J. KATHAWALLA, J.
DATE : AUGUST 14, 2012.
P.C. :-
By this Notice of Motion, the Insolvent No. 1 has prayed that the order of adjudication dated 19th August 2006 passed against him be annulled under Section 21(1) of the Presidency-towns Insolvency Act, 1909 .
In the affidavit in support of the Notice of Motion, it is inter alia stated that the Insolvent No.1 has filed his Schedule of Assets and Liabilities and save and except the liability disclosed therein, there are no other creditors. It is further stated that his well-wishers have paid all the creditors in full and final settlement and has lodged the receipts evidencing payment to the creditors.
The Official Assignee states that he has no objection if the Notice of Motion is made absolute.
In view of above, the Notice of Motion is made absolute in terms of prayer clauses (a) and (b) with no order as to costs.
S.J. KATHAWALLA, J.
1 issue framed by the court
Whether the order of adjudication dated 19th August 2006 against the applicant can be annulled under Section 21(1) of the Presidency-towns Insolvency Act, 1909.
1 provisions across 1 enactments
Mayur Narendra Chandra
S.J. KATHAWALLA
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
