Disposed

R.Gopalakrishnan v. a.K.Periyasamy

Madras HC13 Sept 2021IP/15/2019

Case brief

AI extract

What is this about?

The Court disposed of an insolvency petition where the debtor had already been adjudicated insolvent in a pending related petition (I.P.No.16 of 2019). The petitioner was granted liberty to renew the petition if the pending one is settled or withdrawn.

What did the court decide?

Petition disposed of; liberty to renew if I.P.No.16 of 2019 is settled/adjudication withdrawn; liberty to make claim in I.P.No.16 of 2019 within 30 days.

R.Gopalakrishnan Vs a.K.Periyasamy — Insolvency and Bankruptcy | Madras HC (2021)

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I.P.No.15 of 2019

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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DATED : 13.09.2021

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CORAM

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THE HONOURABLE MR.JUSTICE R.SUBRAMANIAN

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Insolvency Petition No.15 of 2019
R.Gopalakrishnan ...Petitioning Creditor
Vs.
A.K.Periyasamy ... Debtor
PRAYER: Petition filed under Sections 9, 10, 11, 12 and 13 of the
Presidency Towns Insolvency Act III of 1909 and Order III-A of the
Insolvency Rules, 1958 praying (a) to treat this petition as urgent; (b) to
adjudicate the debtor as insolvent; (c) to direct that the estate of the
debtor be vested in the Official Assignee of Madras, for the benefit of the
General Body of creditors of the debtor; (d) to order that the costs of this
petition be paid by the Official Assignee of Madras, from and out of the
estate of the debtor to the petitioning creditor and (e) to pass such other

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or further orders as this Hon'ble Court may deem fit and proper under the circumstances of the case.

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Page No.1/4 https://www.mhc.tn.gov.in/judis/

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I.P.No.15 of 2019

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For Petitioning Creditor : Mr.C.Elamurugan

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Mr.Vasantha Kumar, Deputy Official Assignee and Official Assignee

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***** O R D E R The petitioning creditor seeks adjudication of the debtor as an insolvent on the ground of inability to pay the decreed debt.

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This petition was preceded by insolvency notice in I.N.No.8 of

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Despite service of such insolvency notice, the debtor has not paid

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the decreetal amount. Though, this action by itself amount to an act of insolvency, the very same debtor has been adjudicated as an insolvent in

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I.P.No.16 of 2019 today.

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3. Hence, this insolvency petition is disposed of with liberty to the

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petitioning creditor to renew the same, if I.P.No.16 of 2019 is settled or adjudication in I.P.No.16 of 2019 is withdrawn. The petitioning creditor

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Page No.2/4

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

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I.P.No.15 of 2019

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is at liberty to make a claim in I.P.No.16 of 2019 within a period of 30

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days from today.

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13.09.2021
dsa
Index : No
Internet : Yes
Speaking Order/ Non-Speaking Order

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Page No.3/4 https://www.mhc.tn.gov.in/judis/

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I.P.No.15 of 2019

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R.SUBRAMANIAN, J.

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dsa

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Insolvency Petition No.15 of 2019

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13.09.2021

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Page No.4/4 https://www.mhc.tn.gov.in/judis/

R.Gopalakrishnan v. a.K.Periyasamy

Case brief

What is this about?

What did the court decide?

R.Gopalakrishnan v. a.K.Periyasamy

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Statutes considered

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Coram

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