LawforAll

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Showing posts with label provincial insolvency act. Show all posts
Showing posts with label provincial insolvency act. Show all posts
Thursday, October 18, 2012

the sale of property in favour of a particular person is not an act of insolvency when it is supported by consideration and it was for the discharge of the debt of the debtor. The preference given to a particular debtor cannot be treated as an act of insolvency.Merely because, the debtor has filed subsequently a debtor insolvency petition is also not a ground to interfere with the unsuccessful challenge made by the petitioners.

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THE HON’BLE SRI JUSTICE N.R.L. NAGESWARA RAO C.R.P.No. 1180 of 2005 ORDER: The revision is filed against the judgment dated ...
Friday, December 16, 2011

the transferee court must put the parties to the notice: pecuniary jurisdiction is to be consider in the insolvency proceedings also= there is nothing on record to show that after transfer of the said I.P. from the District Court, Vizianagaram to the Court of Senior Civil Judge, Parvathipuram, there was any notice to the appellant i.e., the appellant had no information about transfer of the said I.P. from the District Court, Vizianagaram to Court of Senior Civil Judge, Parvathipuram and also the date of hearing and hence, the appellant cannot be put to any blame nor can the case be dismissed as such, that too, for default Hence, C.M.A.No.296 of 2001 is allowed and the order, dated 29.12.2000, passed by the Senior Civil Judge, Parvathipuram, Vizianagaram District, in I.P.No.1 of 1999 is set aside.=On perusal of the material on record, we find that there is no dispute as regards the valuation of the Insolvency Petition i.e., Rs.11,68,657/-. Hence, necessarily the matter has to be disposed of only by the District Court as per Section 3 of the Provincial Insolvency Act, 1920.

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THE HONOURABLE SRI JUSTICE B.PRAKASH RAO AND THE HONOURABLE SRI JUSTICE R.KANTHA RAO CIVIL MISCELLANEOUS APPEAL Nos.296 of 2001 ...