Disposed

Mr.T.Jacob Chinnadurai v. John Premkumar

Madras HC4 Feb 2021A/79/2021

Case brief

AI extract

What is this about?

The Official Assignee filed an application to execute a conveyance deed in favor of a purchaser and stay partition proceedings. The court directed the handover of property possession to the insolvent's sisters and ordered the release of dividend to creditors.

What did the court decide?

Direction to vacate stay on suit O.S.No.53 of 2021, handover property possession to sisters, and disburse dividend to creditors within two months.

Mr.T.Jacob Chinnadurai Vs John Premkumar — Company and Corporate | Madras HC (2021)

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A.No.79 of 2021 in I.P.No.1 of 2010

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A.No.79 of 2021 in I.P.No.1 of 2010 KRISHNAN RAMASAMY, J.,

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Originally this Application has been filed by the learned Official Assignee seeking to execute conveyance deed in favour of the purchaser Ramakannan, in respect of the schedule mentioned property situated at Door No.7-1-31 to 35, Mothilal Street, (Muthal Veethi) Survey No.94/7 in Ward No.5, measuring 25 cents or 10,900 sq.ft., in Karaikudi Registration District, Sakkottai Union, Kandanur Panchayat, Kandanur Village and to stay the proceedings in the suit in O.S.No.53 of 2021, filed by the plaintiff – C.T.Visalakshi, 4^th respondent herein against S.Nachiappan (2^nd insolvent), N.Thiyagarajan (1^st insolvent) and Sivagami (3^rd defendant in the suit), pending before the Principal District and Sessions Court, Sivagangai District.

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2.Learned Official Assignee would submit that this Court after declaring the 2^nd respondent as insolvent, he took possession of the schedule mentioned property and the brought the same for sale. One Mr.Ramakannan participated and he become a successful bidder. Therefore, learned Official Assignee filed an application to executed the conveyance deed in favour of the purchaser.

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https://www.mhc.tn.gov.in/judis

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A.No.79 of 2021 in I.P.No.1 of 2010

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3.Learned Official Assignee would further submit that this application

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has also been filed to stay the operation in O.S.No.53 of 2022, which was filed by the sisters of insolvent seeking for partition in the schedule mentioned property. During the pendency of the present application, the sisters of insolvent agreed to pay the share of the insolvent to the learned Official Assignee. Accordingly, the property was valued and the insolvent share was about Rs.16 Lakhs. The said Rs.16 Lakhs along with 7% Government commission was paid. Therefore, he would submit that as far as insolvent share is concerned, he has secured the same and the schedule mentioned property may be re-conveyed since the share of the insolvent's sisters also involved in the said property.

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4.Considering the submissions made by the learned Official Assignee, this Court is of the view that the possession of the schedule mentioned property can be handed over to the sisters of the insolvent and they can proceed very well with O.S.No.53 of 2021. Accordingly, stay granted by this Court vide order dated 06.09.2021 stands vacated. Learned Official Assignee

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https://www.mhc.tn.gov.in/judis

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A.No.79 of 2021 in I.P.No.1 of 2010

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is directed to handover the possession of the property to the sisters of the insolvent and they can proceed with O.S.No.53 of 2021.

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5.Learned Official Assignee is also directed to disburse the dividend to

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the creditors from the said sum of Rs.16 Lakhs, at the earliest point of time preferably within a period of two months from the date of receipt of a copy of this order.

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6.With the above directions, this application is disposed of.

26.06.2023

rst

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https://www.mhc.tn.gov.in/judis

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A.No.79 of 2021 in I.P.No.1 of 2010

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KRISHNAN RAMASAMY, J.,

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rst

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A.No.79 of 2021 in I.P.No.1 of 2010

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26.06.2023

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https://www.mhc.tn.gov.in/judis

Mr.T.Jacob Chinnadurai v. John Premkumar

Case brief

What is this about?

What did the court decide?

Mr.T.Jacob Chinnadurai v. John Premkumar

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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