Claims on promissory notes executed by an adjudicated insolvent were rejected: the claimant admitted the underlying debt was 30 years old, written off in accounts, and time-barred. The court upheld the Official Assignee's dismissal of the claim petitions and dismissed the applications challenging it.
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.
Appln.Nos.110, 111 and 112 of 2024 in I.P.No.25 of 2014
Appln.Nos.110, 111 and 112 of 2024 in I.P.No.25 of 2014
Dr.G.JAYACHANDRAN,J. and C.V.KARTHIKEYAN,J.
These applications have been filed against the order passed by the Official Assignee on 29.09.2023 made in Claim Petition Nos.271 to 273 of 2016 respectively in I.P.No.25 of 2014.
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Appln.Nos.110, 111 and 112 of 2024 in I.P.No.25 of 2014
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Appln.Nos.110, 111 and 112 of 2024 in I.P.No.25 of 2014
of the creditors by name Chitra Desai. Soon after notice to Arjunlal Sunderdas-debtor, he admitted his insolvency and he had disclosed his assets and liability. Also in one of the proceedings he has filed an affidavit stating that some of the creditors had forced him to affix signatures in blank pro-notes.
payable to the petitioner herein, who claims to be the Director of A.R.A.P. Enterprises Private Limited.
to have executed by Arjunlal Sunderdas, the claim petitions had been filed. The pro-notes are in favour of A.R.A.P. Enterprises Pvt. Limited and their individual names. The affidavit filed along with the pro-notes indicate that the deponent was not aware of the exact money transaction between the insolvent and his father since it happened 30 years ago. The 3/6
Appln.Nos.110, 111 and 112 of 2024 in I.P.No.25 of 2014
said transaction made by his father 30 years ago have been written off in the accounts claiming that the debtor had failed to pay the interest for three consecutive hearings.
Appln.Nos.110, 111 and 112 of 2024 in I.P.No.25 of 2014
(Dr.G.J.J.) (C.V.K.J.) 11.06.2024
ari
Appln.Nos.110, 111 and 112 of 2024 in I.P.No.25 of 2014
Dr.G.JAYACHANDRAN,J. and C.V.KARTHIKEYAN,J. ari
Appln.Nos.110, 111 and 112 of 2024 in I.P.No.25 of 2014
11.06.2024l
1 issue framed by the court
Were the claim petitions based on pro-notes against an adjudicated insolvent, which the Official Assignee dismissed as time-barred, sustainable?
Prabhakaran
Vijayalakshmi
Aravindhan
Ravindran
Hotel A.R.A.P. Pvt. Ltd.
Official Assignee
Dr.G.Jayachandran
C.V.Karthikeyan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
