Disposed

M/s.R.P.Sanghvi and Co. v. Bhairu M Kanse

Bombay HC19 Aug 2014IRN/2/2014

Case brief

AI extract

What is this about?

This order confirms the Insolvent's undertaking to deposit monthly salary and bonuses with the Official Assignee. It mandates deductions by the Mumbai Port Trust, directs the Sheriff to correct an erroneously deposited amount, and discharges the Rule Nisi due to the Insolvent's cooperation.

What did the court decide?

Deposit of salary and bonus by Mumbai Port Trust; Transfer of erroneously deposited sum by Sheriff; Discharge of Rule Nisi.

M/s.R.P.Sanghvi and Co. Vs Bhairu M Kanse — Insolvency and Bankruptcy | Bombay HC (2014)

Nitin

937-IRN-2-2014

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

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IN INSOLVENCY

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I.R.NO. 2 OF 2014

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WITH

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OAR NO. 5 OF 2014

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INSOLVENCY PETITION NO. 154 OF 2005

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Re :

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Bhairu Mahadu Kanse	… Insolvent

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Ex-parte :
M/s. R. P. Sanghvi & Company	…	Petitioning Creditor
The Official Assignee of Bombay	…	Petitioner

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Ms. Neeta Solanki i/b. M/s. Kiran Jain & Company for the Petitioning Creditor.

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Mr. Anil P. Bagwe for Insolvent.

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Mr. M.D. Narvekar, Official Assignee, present.

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Mr. Amod P. Ketkar, Dy. Sheriff present.

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CORAM: S.J. KATHAWALLA, J. DATE: 19TH AUGUST, 2014

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P.C.:

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The Learned Advocate appearing for the Insolvent on

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instructions from the Insolvent undertakes to deposit an amount of Rs. 5,000/- per month with the office of Official Assignee from his monthly

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salary and also undertakes to deposit his entire bonus, to be received in October-2014 and November-2014. In view thereof, the Mumbai Port

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Nitin 2 937-IRN-2-2014

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Trust is directed to deduct an amount of Rs. 5000/- per month from the salary of the Insolvent and deposit the same with the office of Official Assignee. The Mumbai Port Trust is further directed to deposit the entire bonus of the Insolvent with the office of Official Assignee.

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The Sheriff of Mumbai is directed to pay within a period of one week from today, an amount of Rs. 54,065/- to the office of Official Assignee, which has been wrongly deposited by the Mumbai Port Trust by its letter dated 23^rd June, 2014. The Official Assignee shall invest the said amount in the fixed deposit account of a nationalized bank initially for a period of one year.

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Since I am informed by the Official Assignee that the Insolvent is cooperating with the office of the Official Assignee and appearing for his private examination on the dates fixed by the Official Assignee, the Rule Nisi stands discharged.

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All concerned to act on an ordinary copy of this order duly authenticated by the Learned Associate of this Court.

M/s.R.P.Sanghvi and Co. v. Bhairu M Kanse

Case brief

What is this about?

What did the court decide?

M/s.R.P.Sanghvi and Co. v. Bhairu M Kanse

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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