The court allowed the Official Assignee's application for a judgment and decree. Based on evidence that the respondent received a sum from the insolvent which remained outstanding, a decree was passed for payment of the amount with interest.
Decree passed against the second respondent to pay Rs. 2,75,00,000/- with interest at 18% p.a.
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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Appln.(IP)No. 207 of 2016 in
I.P. No. 25 of 2014
Dr.G.JAYACHANDRAN, J. & C.V.KARTHIKEYAN, J.
This application had been filed by the Official Assignee seeking a Judgment and Decree against the second respondent, Iris Art Galeria P Ltd., A-2B, 13, Tri Star Residency, Eri Scheme, Mogappair West, Chennai – 600 037, to pay a sum of Rs.2,75,00,000/- with interest at 18% p.a., from 21.04.2014 till date of realisation with cost of the recovery proceedings.
2. The Official Assignee had stated that the second respondent
had received a sum of Rs. 2,75,00,000/- from the first respondent/insolvent Arjunlal Sunderdas, which was shown as due and outstanding as on 21.04.2014. It was also stated that this amount was reflected in the accounts. There has been no subsequent transaction to prove discharge. The Official Assignee had issued notice calling upon the second respondent to pay the amount.
3. Notice was directed to the second respondent in this application. Notice had been served. There is no representation on behalf of the second respondent and therefore, the second respondent was set ex-parte on 25.01.2018. Thereafter, the applicant was directed to take evidence.
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Dr.G.JAYACHANDRAN, J. & C.V.KARTHIKEYAN, J.
vsg
4. Accordingly, A.S.Velumani, Sub Assistant Registrar attached to the office of the Official Assignee, High Court, Madras, filed proof affidavit and was examined as PW-1. He filed Exs. P-1 to P-5. Ex.P-1 Series (3 Nos.) are the true copies of the relevant pages in auditor Ranga Ramanujam's report; Ex.P-2 is the true copy of relevant pages of auditor Annamalai Associates' report; Ex.P-3 is the true copy of demand notice dated 15.03.2016 sent by Official Assignee with a copy of acknowledgment card; Ex.P-4 are the true copies of relevant entries dated 30.10.2015 in schedule of affairs filed in the Court (No.31); Ex.P-5
is the true copy of relevant bank entries.
5. In view of the above evidence, this Application is allowed
and the decree is passed accordingly against the second respondent as prayed for.
vsg
Note : Issue order copy on 29.04.2019
Appln.(IP)No. 207 of 2016 in I.P. No. 25 of 2014
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1 issue framed by the court
Whether the Official Assignee is entitled to pass a decree against the respondent for a sum shown as outstanding in the insolvent's accounts.
Official Assignee
Iris Art Galeria P Ltd.
Dr. G. Jayachandran
C. V. Karthikeyan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
