Allowed

The Official Assignee v. S Arjunlal Sunderdas

Madras HC24 Jan 2020APPLN/174/2016

Case brief

AI extract

What is this about?

The Madras High Court allowed an application by the Official Assignee to pass a decree against N.S.R. Steels P.Ltd. (2nd respondent) for payment of Rs. 73,50,000/- plus interest. The Court relied on affidavit evidence from the Official Assignee and the insolvent confirming the debt and lack of discharge.

What did the court decide?

A decree is passed against the 2nd respondent to pay a sum of Rs.73,50,000/- with interest at 18% p.a. from 21.04.2014 till date of realization.

The Official Assignee Vs S Arjunlal Sunderdas — Insolvency and Bankruptcy | Madras HC (2020)

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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FRIDAY, THE 24TH DAY OF JANUARY 2020

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THE HON'BLE DR.JUSTICE G.JAYACHANDRAN

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AND

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THE HON'BLE MR.JUSTICE C.V.KARTHIKEYAN

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In the matter of the Presidency Towns Insolvency Act, III of 1909 and In the matter of Arjunlal Sunderdas

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...Debtor

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I.P.NO.25 OF 2014

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Smt.Chitra Desai Residing at 3A-302, Oakland Park, Yamuna Nagar, Lokhandwala Complex, Andheri (West), Mumbai. ... Petitioning Creditor -VS-

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Mr.Arjunlal Sunderdas 23, Anderson Road, Nungambakkam, Chennai-600 006. ... Respondent / Debtor APPLN.NO. 174 OF 2016 The Official Assignee, High Court, Madras ... Applicant -VS1.Mr.S.Arjunlal Sunderdas 23, Anderson Road, Nungambakkam, Chennai-600 006. ...1^st Respondent/Insolvent

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2.N.S.R.Steels P.Ltd., No.20-A, East Velala Colony, Rama Varmapuram, Nagercoil 629001 ... 2^nd Respondent/Debtor Application praying that this Hon'ble Court be pleased to direct the 2nd respondent to pay a sum of Rs.73,50,000/- with interest at 18% p.a. from 21.04.2014

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

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till date of realization with cost of the recovery

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proceedings.

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This above application coming on this day before this court for hearing in the presence of

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Mr.K.V.Ananthakrushnan, advocate for the Official Assignee of this Court, the applicant herein; and upon reading the Judges Summon and Report of the Official Assignee filed herein;

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The Court made the following order:-

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This application had been filed by the Official Assignee seeking a Judgment and Decree against the second respondent, N.S.R.Steels Pvt. Ltd., No.20-A, East Velalar Colony, Rma Varma Puram, Nagercoil, to pay a sum of Rs.73,50,000/- with interest at 18% p.a., from 21.04.2014 till date of realisation with cost of the recovery proceedings.

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2. The Official Assignee had stated that the second respondent had received a sum of Rs. 73,50,000/- 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.

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3. Notice was directed to the second respondent in this application. Notice had been served on 08.12.2017. https://hcservices.ecourts.gov.in/hcservices/ There was no representation on behalf of the second

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respondent and therefore, the second respondent was set ex-

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parte on 25.01.2018. Thereafter, the applicant was directed to take evidence.

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4. Accordingly, A.S.Velumani, Sub Assistant

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Registrar, Office of Official Assignee, Madras High Court filed proof affidavit and was examined as PW-1 and he reiterated the claim for Rs.73,50,000/- and to establish the claim filed Exs. A-1 – A-4. Ex.A-1 is the certified true copy of the relevant pages of the Auditor's Report concerning the second respondent; Ex.A-2 is the certified true copy of the relevant pages of the Auditor's report concerning the second respondent; Ex.A-3 is the certified true copy of the Notice dated 18.8.2015 sent by the Office of the Official Assignee to the second respondent along with certified true copy of the acknowledged Card; and Ex.A-4 is the certified true copy of the schedule of the debtor's affairs dated 30.10.2015 filed by the Insolvent. Thereafter, Mrs.P.Mangaiyarkkarasi, Assistant Section Officer attached to the Office of Official Assignee, Madras High Court filed proof affidavit and was examined as PW-2 and she reiterated the claim and to establish the claim filed Exs. A-5 to A-8. Ex.A-5 is the true copy of the relevant pages from Auditor Ranga Ramanujam statement; Ex.A6 is the true copy of the schedule of affairs dated 24.05.2014 (S.No.58); Ex.A7 is the true copy of the bank statement from 01.11.2008 to 30.11.2008 and Ex.A8 is the

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true copies of share certified issued by the second https://hcservices.ecourts.gov.in/hcservices/

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respondent dated 23.10.2013.

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5. The first respondent namely, the insolvent, Arjunlal Sunderdas /RW-1 also appeared before the Court and filed his proof affidavit. He also confirmed that the second respondent had borrowed a sum of Rs.73,50,000/- on 21.04.2014 which amounts were paid through RTGS/Cheque. He affirmed that the second respondent had not paid any amount towards discharge.

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6. It is seen that the amounts were due and payable on the date of filing of the Insolvency Petition and had also been shown in the schedule of Affairs.

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7. In view of the above evidence, this Application is allowed and a decree is passed accordingly against the second respondent as prayed for.

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WITNESS, THE HON'BLE THIRU AMRESHWAR PRATAP SAHI, CHIEF JUSTICE, HIGH COURT AT MADRAS, AFORESAID THIS THE 24TH DAY OF JANUARY 2020.

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ASSISTANT REGISTRAR(OS-I)

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//CERTIFIED TO BE TRUE COPY//

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DATED THIS THE DAY OF 2020

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MANAGER INSOLVENCY OFFICE

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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-03.02.2020

HIGH COURT, MADRAS

APPLN. No.174 OF 2016 IN I.P.NO.25 of 2014 THE HON'BLE DR.JUSTICE G.JAYACHANDRAN AND THE HON'BLE MR.JUSTICE C.V.KARTHIKEYAN

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ORDER DATED: 24.01.2020

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FOR APPROVAL: 10/02/2020 APPROVED ON : 11/02/2020

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COPY TO:-

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The Official Assignee, High Court, Madras.

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

The Official Assignee v. S Arjunlal Sunderdas

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The Official Assignee v. S Arjunlal Sunderdas

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