Allowed

The Official Assignee v. S.K.Johnba

Madras HC5 Aug 2019APPLN/118/2019

Case brief

AI extract

What is this about?

The Madras High Court declared the first and final dividend in the estate of insolvent S.K.Johnba and S.J.Mahboob John under the 1909 Act. The court sanctioned the Official Assignee's commission and sanctioned the distribution of the clear balance to 22 proven unsecured creditors at 100 paise in the rupee.

What did the court decide?

Sanctioned payment of Official Assignee's commission of Rs.1,76,701/- and declared 100% dividend of Rs.25,24,300/- to 22 unsecured creditors.

The Official Assignee Vs S.K.Johnba — Insolvency and Bankruptcy | Madras HC (2019)

¶1

¶2

IN THE HIGH COURT OF JUDICATURE AT MADRAS

¶3

(IN INSOLVENCY)

¶4

MONDAY, THE 5TH DAY OF AUGUST 2019

¶5

THE HON'BLE MRS.JUSTICE PUSHPA SATHYANARAYANA

¶6

APPLN. Nos.118 & 119 of 2019
in
IP. No.108 of 2001
In the matter of the
Presidency Towns Insolvency
Act, III of 1909
and
In the matter of 1.S.K.Johnba
2.S.J.Mahboob John
- Debtors
(1) The matter of the petition and schedule of the
insolvent above named coming on this day to be further
heard for declaring the first and final dividend of the
said insolvent's estate and for hearing all objections to

¶7

the said schedule of the said insolvent and to the accounts

¶8

of the Official Assignee of this court and as much the assignee of the estate and effects of the said insolvent,

¶9

and for hearing all claims of any creditors not previously heard and none of the creditors of the said insolvent appearing to make any objections to the said schedule or to the accounts to the said Official Assignee, or to make or https://hcservices.ecourts.gov.in/hcservices/ prefer, any claim not previously heard and determined, and

¶10

¶11

it appearing to the court from the proportion account,

¶12

filed on 26th day of July, 2019 that after deducting the commission payable to the said Official Assignee, namely Rs.1,76,701/- (Rupees One Lakh Seventy Six Thousand Seven Hundred and One only) and other disbursements amounting to Rs.54,565/- (Rupees Fifty Four Thousand Five Hundred & Sixty Five Only) being the cost of administration and the sum of Rs.23,700/- (Rupees Twenty Three Thousand Seven Hundred Only) being the amount reserved for future expenses

¶13

and for debts and disputed proofs and claims, there was in

¶14

his hands to the credit of the said estate, a clear balance of Rs.25,24,300/- (Rupees Twenty Five Lakhs Twenty Four Thousand and Three Hundred Only) which is sufficient

¶15

to declare the first and final dividend herein. THIS COURT

¶16

DOTH HEREBY SANCTION the payment to the said Official Assignee of the said commission of Rs.1,76,701/- (Rupees One Lakh Seventy Six Thousand Seven Hundred and One only)

¶17

AND DOTH DECLARE the first and final dividend among the 22

¶18

proved unsecured creditors of the said insolvent

¶19

1.S.K.Johnba & 2.S.J.Mahboob John of the sum of Rs.25,24,300/- (Rupees Twenty Five Lakhs Twenty Four

¶20

Thousand and Three Hundred only) at the rate of 100 paise

¶21

in a rupee on the amount of the admitted debts Rs.25,24,300/- (Rupees Twenty Five Lakhs Twenty Four Thousand and Three Hundred only) due to the 22 proved

¶22

unsecured creditors.

¶23

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

¶24

¶25

(2) That the Official Assignee be and is hereby permitted to disburse the dividend amount of Rs.25,24,300/(Rupees Twenty Five Lakhs Twenty Four Thousand and Three Hundred only) to the 22 proved unsecured creditors.

¶26

WITNESS, THE HON'BLE SHRIMATI, VIJAYA KAMLESH
TAHILRAMANI, CHIEF JUSTICE, HIGH COURT AT MADRAS, AFORESAID
THIS THE 5TH DAY OF AUGUST, 2019.
SD/-
ASSISTANT REGISTRAR
Original Side – I
//CERTIFIED TO BE TRUE COPY//
DATED THIS THE DAY OF 2019
MANAGER
INSOLVENCY OFFICE
From 25 th Day of September 2008 the Registry is issuing
certified copies of the Orders/Judgments/Decrees in this
format.

¶27

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

cns – 14.10.2019

HIGH COURT, MADRAS.

APPLN. Nos.118 & 119 of 2019
in
I.P. No.108 of 2001
FIRST & FINAL
DIVIDEND DECLARATION
ORDER DATED : 05.08.2019
THE HON'BLE MRS.JUSTICE
PUSHPA SATHYANARAYANA
FOR APPROVAL: 16/10/2019
APPROVED ON : 16/10/2019

¶32

COPY TO:-

¶33

THE OFFICIAL ASSIGNEE HIGH COURT, MADRAS.

¶34

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

The Official Assignee v. S.K.Johnba

Case brief

What is this about?

What did the court decide?

The Official Assignee v. S.K.Johnba

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

Similar cases

Cholamandalam Investment and Finance Company Ltd. Vs M/S.Tapasya Tours and Travels Prop.Mr.Mandar Parab

R.J.Ravindranath @ Ravi Kapoor Vs M/S New Century Book House

A.N.Shameel Ahmed Vs Mrs Afuthunnissa Begum

M/S.Shriram Transport Finance Co.Ltd Vs Mr.Kanirajan R and Another

Rpn Engineers Chennai Pvt. Ltd. Vs the General Manager

Naveen,Rep.by Mother and Vs 1.JOHN Manjooram