Allowed

Kantha S.Ahuja v. R.Damodaran

Madras HC29 Oct 2018IP/18/2018

Case brief

AI extract

What is this about?

The Madras High Court adjudicated R.Damodaran and D.Lakshmi as insolvents under the Presidency Towns Insolvency Act, 1909. The order declared that the debtors' estate shall vest in the Official Assignee and directed them to file a schedule of affairs. The debtors were granted 18 months to apply for discharge.

What did the court decide?

R.Damodaran and D.Lakshmi adjudicated as insolvents; estate vested with Official Assignee; 18 months granted for discharge application.

Kantha S.Ahuja Vs R.Damodaran — Insolvency and Bankruptcy | Madras HC (2018)

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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(IN INSOLVENCY)

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MONDAY, THE 29TH DAY OF OCTOBER 2018

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THE HON'BLE DR. JUSTICE ANITA SUMANTH

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INSOLVENCY PETITION NO.18 of 2018

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In the matter of Presidency Towns Insolvency Act, III of 1909 and In the matter of Mr.R.Damodaran and another ... Debtors Kantha S.Ahuja, Carrying on business under the name and style of K.S.A. & Company, No.601/602, A Block, Shivalaya Buildings, Ethiraj Salai, Egmore, Chennai 600 008. ... Petitioning Creditor -Versus1.R.Damodaran, S/o.Ramachandran, Carrying on business under the name and style of Lakshmi Electricals,

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2.D.Lakshmi, W/o.R.Damodaran, Both are residing at New No.6, Old No.8, Gandhi Street, West Saidapet, Chennai 600 015. ... Debtors

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Insolvency Petition praying that this Hon'ble court be pleased to (a) adjudicate the debtors as Insolvents (b) direct that the estate of the debtors be vested in the Official Assignee of Madras, for the benefit of the general body of Creditors of the Debtors. (c) order that the https://hcservices.ecourts.gov.in/hcservices/ costs of this petition paid by the Official Assignee of

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Madras, from and out of the estate of the debtors to the petitioning creditor.

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The Insolvency Petition coming on this day before this

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Court for hearing in the presence of Mr.T.Srikanth, advocate for the petitioning creditor herein and the debtors set ex-parte on 24.09.2018; and upon reading the

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petition and affidavit of Kantha S.Ahuja, filed herein,

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It is ordered as follows:

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That 1.R.Damodaran, S/o.Ramachandran, Carrying on

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business under the name and style of Lakshmi Electricals, 2.D.Lakshmi, W/o.R.Damodaran, Both are residing at New No.6, Old No.8, Gandhi Street, West Saidapet, Chennai 600 015 be and are hereby adjudicated as Insolvents.

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That the said insolvents do appear before the

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Official Assignee of this Court and they shall file their schedule of affairs together with a copy thereof on or before on 29.11.2018.

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That the said insolvents shall apply for their discharge within a period of 18 months from this date;

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https://hcservices.ecourts.gov.in/hcservices/

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That the estate of the debtors shall vest with the Official Assignee of the High Court at Chennai, for the benefit of the general body of the creditor.

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WITNESS, THE HON'BLE SHRIMATI, VIJAYA KAMLESH
TAHILRAMANI, CHIEF JUSTICE, HIGH COURT AT MADRAS, AFORESAID
THIS THE 29 th DAY OF OCTOBER 2018.
sd/-
ASSISTANT REGISTRAR
Original Side – I
//CERTIFIED TO BE TRUE COPY//
DATED THIS THE DAY OF 2018
MANAGER
INSOLVENCY OFFICE
From 25 th Day of September 2008 the Registry is issuing
certified copies of the Orders/Judgments/Decrees in this
format.

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https://hcservices.ecourts.gov.in/hcservices/

cns – 19.11.2018

HIGH COURT, MADRAS

I.P. No.18 of 2018
ADJUDICATION DECREETAL
ORDER DATED : 29.10.2018
THE HON'BLE DR. JUSTICE
ANITA SUMANTH
FOR APPROVAL : 22.11.2018
APPROVED ON : 22.11.2018
Copy to :
The Official Assignee
High Court, Madras.

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https://hcservices.ecourts.gov.in/hcservices/

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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(IN INSOLVENCY)

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MONDAY, THE 29TH DAY OF OCTOBER 2018

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THE HON'BLE DR. JUSTICE ANITA SUMANTH

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INSOLVENCY PETITION NO.18 of 2018

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In the matter of Presidency Towns Insolvency Act, III of 1909 and In the matter of Mr.R.Damodaran and another ... Debtors

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Kantha S.Ahuja, Carrying on business under the name and style of K.S.A. & Company, No.601/602, A Block, Shivalaya Buildings, Ethiraj Salai, Egmore, Chennai 600 008. ... Petitioning Creditor -Versus1.R.Damodaran, S/o.Ramachandran, Carrying on business under the name and style of Lakshmi Electricals,

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2.D.Lakshmi, W/o.R.Damodaran, Both are residing at New No.6, Old No.8, Gandhi Street, West Saidapet, Chennai 600 015. ... Debtors

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Insolvency Petition praying that this Hon'ble court be

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pleased to (a) adjudicate the debtors as Insolvents (b) direct that the estate of the debtors be vested in the Official Assignee of Madras, for the benefit of the general body of Creditors of the Debtors. (c) order that the costs of this petition paid by the Official Assignee of Madras, from and out of the estate of the debtors to the

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petitioning creditor. https://hcservices.ecourts.gov.in/hcservices/

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The Insolvency Petition coming on this day before this Court for hearing in the presence of Mr.T.Srikanth, advocate for the petitioning creditor herein and the debtors set ex-parte on 24.09.2018; and upon reading the petition and affidavit of Kantha S.Ahuja, filed herein,

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THE COURT MADE THE FOLLOWING ORDER :

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This Insolvency Petition has been filed at the instance of the Petitioning Creditor seeking an order of adjudication of the debtors as insolvents and a direction that the estate of the debtors vests in the Official Assignee to the benefit of the general body of their creditors.

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The debtors are stated to have effected borrowals

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from the petitioning creditor. Since the amount was not

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repaid, O.S.No.4561 of 2017 was filed before the City Civil Court and the same came to be decreed on 21.11.2017. The

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amount remains unpaid even thereafter.

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An application was filed in I.N.No.9 of 2018 and

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this Court directed issuance of notice to all debtors. The

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insolvency notices, sent by RPAD, were duly served on them on 09.04.2018, despite which the debtors have failed to comply with the decrees that they have suffered. https://hcservices.ecourts.gov.in/hcservices/

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No application to set aside the insolvency notices has been filed by the debtors within the period stipulated.

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The debtors have thus committed acts of insolvency

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within the meaning of Section 9(2) of the Presidency Towns Insolvency Act, III of 1909.

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due and payable as per the insolvency notice is a sum of Rs.84,173/- and as on date of the petition, i.e., 28.05.2018, amounted to a sum of Rs.89,442/- . The amount is entirely unsecured.

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Though the name of the debtors have been printed consistently in the cause list, there is no appearance either by them or on their behalf. In the aforesaid

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circumstances, the insolvents were set exparte on

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24.09.2018. Hence, I proceed to decide the matter on merits.

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adjudicated as insolvent. All the estate and effects of

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the insolvents shall vest in the Official Assignee and the

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same shall be administered as per law. The insolvents are

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directed to appear before the Official Assignee and file their schedule of affairs on or before 29.11.2018. The https://hcservices.ecourts.gov.in/hcservices/

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insolvents are granted 18 months from the date of this order to apply for discharge.

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https://hcservices.ecourts.gov.in/hcservices/

cns – 19.11.2018

HIGH COURT, MADRAS

I.P. No.18 of 2018
ADJUDICATION ORDER
DATED : 29.10.2018
THE HON'BLE DR. JUSTICE
ANITA SUMANTH
FOR APPROVAL : 22.11.2018
APPROVED ON : 22.11.2018
Copy to :
The Official Assignee
High Court, Madras.

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https://hcservices.ecourts.gov.in/hcservices/

Kantha S.Ahuja v. R.Damodaran

Case brief

What is this about?

What did the court decide?

Kantha S.Ahuja v. R.Damodaran

Case brief

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