Disposed
Velmurugan v. Nil
Madras HCIP/13/2024
Case brief
AI extract
What is this about?
Insolvency petition under the Presidency Town Insolvency Act. After adjudication, the petitioner repeatedly failed to appear and did not file his schedule of affairs despite directions, with the Official Assignee reporting non-compliance. The Court found the petition was filed to defraud creditors, annulled the adjudication order, and imposed costs of Rs.1,00,000/- payable to the Chief Justice Rel
What did the court decide?
Adjudication order dated 06.06.2024 annulled; costs of Rs.1,00,000/- imposed on petitioner payable to Chief Justice Relief Fund within eight weeks, failing which revenue recovery proceedings.