Sakhi R. Sahjwani, v. Abhijit Sarkar
Case brief
What is this about?
Registrar adjourns an insolvency proceeding to allow the insolvent to valorize settlement details and verify a mortgage sale before accepting payment. The court notes the petitioner's suggestion to settle but directs communication pending verification of assets and outstanding dues.
What did the court decide?
Two weeks for settlement communication and verification of sale proceedings.
What the court decided
A compact analysis
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 AT BOMBAY IN INSOLVENCY
INSOLVENCY PETITION NO. 1 OF 2013
Re : Abhijit Sarkar & Anr. ...Insolvents. Before : Insolvency Registrar, High Court, Bombay. Date : 14th January, 2020 at 12.30 p.m.
Present:-
Mr. K. K. Trivedi, Official Assignee.
Ms. Avanti Poredi, i/b. M/s. Thakordas & Madgaonkar, Advocates for Insolvent No.1.
Ms. Sutapa Saha, Advocate for Insolvent No.2.
Abhijit Sarkar, Insolvent No.1.
Today the matter is placed for recording further evidence of Insolvent No.1. Ms. Kavita Lalawani, Advocate appearing on behalf of the Petitioning Creditors has telephonically contacted and stated that she is unwell and, therefore, she is not able to attend to-day's meeting.
Petitioning Creditor is absent.
Advocate for Insolvent No.1 submits that they are ready and willing to settle the claim of the Petitioning Creditor amounting to Rs.1,45,620/-. She further states that an amount of Rs.40,000/- is lying in the Office of the Official Assignee. Advocate for Insolvent No.1 brought Demand Draft drawn on Shamrao Vithal Co-operative Bank Ltd. Dated 13th December, 2019 in favour of Official Assignee, High Court, Bombay for the sum of Rs.75,000/-. She states that remaining amount as per the Decretal amount shall be deposited, on or before next date of the meeting, which will fully satisfy the claim of the Petitioning Creditor.
Issues for consideration
3 issues framed by the court
Whether the insolvent's proposal to settle the creditor's claim can be accepted without proper communication and instructions.
Whether the absence of relevant documents from a CBI enquiry can be used to explain the failure to produce records.
Whether the sale of mortgaged residential premises followed proper court procedures and if amounts are settled.
Parties & counsel
- petitioner
Abhijit Sarkar
- respondent
Abhijit Sarkar & Ors
- other
Petitioning Creditor
- other
Official Assignee
Coram
Case details
As recorded by the court registry
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