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Amit Umraochand Jain Vs Gumanmal S.Bafna — Insolvency and Bankruptcy | Bombay HC (2017)

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Bombay HC
2017
Amit Umraochand Jain Vs Gumanmal S.BafnaAmit Umraochand Jain v. Gumanmal S.Bafna

Disposed

Amit Umraochand Jain v. Gumanmal S.Bafna

Bombay HC4 Apr 2017NMIS/26/2017

Case brief

AI extract

What is this about?

On motion by the Official Assignee, the court discharged the insolvent applicant as there were no remaining claims against him after a partial deposit. The Official Assignee was permitted to deduct commission from the estate before releasing any surplus.

What did the court decide?

Notice of Motion made absolute for discharge of insolvent after deduction of commission charges and release of balance amount.

What the court decided

AI extract

Outcome

Notice of Motion made absolute for discharge of insolvent after deduction of commission charges and release of balance amount.

Detailed headnote1 paragraphs

Discharge of an insolvent applicant: where the insolvent deposits a sum towards his liabilities and there are no further claims against him, he may be discharged. The Official Assignee is entitled to deduct commission from the estate prior to releasing the surplus to the insolvent.

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.

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1/1

20-NMISL48.16

IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN INSOLVENCY NOTICE OF MOTION (L) NO. 48 OF 2016 IN

INSOLVENCY PETITION NO. 148 OF 2004

Gumanlal S.Bafna IN THE MATTER OF Re : Gumanlal S.Bafna

..... Insolvent/Applicant

….. Insolvent

Ex-Parte :

Amit Umaraochand Jain

….. Petitioning Creditor

Mr.Ramesh C.Jain for some of the creditors. Mr.E.B.Sivakumar, Deputy Official Assignee present.

Mr.Gumanlal S.Bafna, Insolvent present in court.

CORAM : R.D. DHANUKA, J. DATE : 4^th APRIL, 2017

P.C .

Pursuant to the order dated 7^th March,2017, the insolvent has already deposited a sum of Rs.2,463/- with the Official Assignee.

Mr.Jain, learned counsel appearing for the petitioning creditor and other creditors states that there are no other claims against the insolvent and has no objection if the insolvent is discharged. Statement is accepted.

Official Assignee is permitted to deduct the commission charges from the estate of the insolvent before releasing the surplus amount to the applicant (insolvent).

Notice of Motion is accordingly made absolute in terms of prayer clauses (a) to (e). Official Assignee shall release the balance amount if any, to the insolvent standing to the credit of the estate account of the insolvent after deducting the commission charges. No order as to costs.

(R.D.DHANUKA, J.)

Parties & counsel

AI extract

applicant
Gumanlal S.Bafna
respondent
Amit Umaraochand Jain

Coram

AI extract

R.D. DHANUKA

Case details

As recorded by the court registry

Court: Bombay HC
Decided on: 4 Apr 2017 · April
Registered: 17 Apr 2017
Case no.: NMIS/26/2017
CNR: HCBM020251532016
Topic: Insolvency and Bankruptcy
Bench: R.d. Dhanuka
Disposal: DISPOSED OFF

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Cite this judgement

Amit Umraochand Jain v. Gumanmal S.Bafna, NMIS/26/2017 (BOM), decided on 4 April 2017.

The Bombay High Court publishes no neutral citation for this judgement — cite it by case number and date of decision.

Bench / Coram

R.D. DHANUKA

Parties & counsel