The High Court at Chennai disposed of three insolvency petitions under the Presidency Towns Insolvency Act, 1909. The court set aside earlier adjudication orders annulled because the debtors affirmed there were no other creditors and all claims were settled.
Orders of adjudication dated 05.03.2012 and 20.02.2012 are set aside and adjudications are annulled.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
I.P.Nos.22, 28 & 43 of 2011
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 02.08.2021
CORAM:
THE HONOURABLE MR.JUSTICE R.SUBRAMANIAN
I.P.Nos.22, 28 & 43 of 2011
Divya C.Mardia ...Petitioning Creditor in I.P.No.22 of 2011 Anitha P. Jain ...Petitioning Creditor in I.P.No.28 of 2011 Bhavika Mardia ...Petitioning Creditor in I.P.No.43 of 2011
1.Dr.V.Arumugam 2.Dr.T.Sharmila
...Debtors in all three IPs'
Prayer in all three IPs: Insolvency Petitions filed under Section 9, 10, 11, 12 and 13 of the Presidency Towns Insolvency Act III, of 1909 and Order III-A of the Insolvency Rules, 1958, seeking to treat this petition as urgent, to adjudicate the Debtors as Insolvents and to direct that the estate of the Debtors be vested in the Official Assignee of Madras, from and out of the estate of the Debtors to the Petitioning Creditor.
For Petitioning Creditor in all IPs : Mr.T.Srikanth For Debtors / Respondents in all IPs : Mr.H.Manojin
for R1 & R2 Official Assignee and Mr.Vasantha Kumar Deputy Official Assignee
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I.P.Nos.22, 28 & 43 of 2011
COMMON ORDER
The Insolvents have filed an affidavit of undertaking to the effect
that they have no other creditors. The learned counsel for the parties would report that all the creditors have been settled.
2.In view of the statement made, the orders of adjudication dated
05.03.2012 and 20.02.2012 are set aside and the adjudications are annulled.
No costs.
02.08.2021
kkn
Internet:Yes
Index:Yes/No
Speaking/Non-speaking
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I.P.Nos.22, 28 & 43 of 2011
R.SUBRAMANIAN, J.
KKN
I.P.Nos.22, 28 & 43 of 2011
02.08.2021
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1 issue framed by the court
Whether the adjudication orders should be set aside given the creditors' undertaking that no other creditors exist.
6 provisions across 2 enactments
Divya C. Mardia
Anitha P. Jain
Bhavika Mardia
Dr. V. Arumugam
Dr. T. Sharmila
R. Subramanian
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
