Manipal Finance Corpn. Ltd. v. Jayant M.. Doshi

Nitin 1 / 2 945-NMIS-11-2015

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

IN INSOLVENCY COMPLIANCE REPORT OF OFFICIAL ASSIGNEE IN NOTICE OF MOTION NO. 11 OF 2015 IN INSOLVENCY PETITION NO. 32 OF 2002 Re :

Jayant M. Doshi ...

Insolvent Ex-parte :

Manipal Finance Corporation Limited ...

Petitioning Creditor Mr.Ramesh Jain for the Petitioning Creditor.

Mr. Jayant Gaikwad for the Insolvent.

Mr.M.D. Narvekar, OA, present.

CORAM : S.J. KATHAWALLA, J.

DATED : 21 ST APRIL, 2015 P.C.:

1.

Perused the Official Assignee's report No. 3 of 2015. By an order dated 10th March, 2015 the same was allowed in terms of prayer clause (a) with a direction to the Official Assignee to file his further report. In pursuance of the direction given in the order dated 10th March, 2015, the Official Assignee filed his further report dated 18th April, 2015. The said report is allowed in terms of prayer clauses (a), (b) and (c), which are reproduced hereunder :

"(a)The Official Assignee may be permitted to make

Nitin 2 / 2 945-NMIS-11-2015 payment of Rs.24,06,837/- being the dividend @ 0.19 paise in a rupee on the admitted amount of claim for Rs.1,26,67,565/- to the Petitioning Creditor i.e. Manipal Finance Corporation Limited.

(b) Petitioning Creditor may be directed to submit usual Undertaking-cum-Indemnity bond in favour of Official Assignee, High Court, Bombay.

(c) The Official Assignee may be permitted to make a payment of an aggregate amount of Rs.16,224/- to the 'Sequence' towards advertisement charges from the estate account of the Insolvent".

2.

The Compliance Report of Official Assignee dated 18th April, 2015 is accordingly disposed of.

(S.J. KATHAWALLA, J.)