The Official Assignee v. S. Arjunlal Sunderdas

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(IN INSOLVENCY) WEDNESDAY, THE 23RD DAY OF JANUARY 2019 THE HON'BLE DR.JUSTICE G.JAYACHANDRAN AND THE HON'BLE MR.JUSTICE C.V.KARTHIKEYAN APPLN.192 OF 2016 IN I.P. No.25 of 2014 In the matter of the Presidency Towns Insolvency Act, III of 1909 and In the matter of Arjunlal Sunderdas ...Debtor I.P.NO.25 OF 2014 Smt.Chitra Desai Residing at 3A-302, Oakland Park, Yamuna Nagar, Lokhandwala Complex, Andheri (West), Mumbai.

... Petitioning Creditor -VSMr.Arjunlal Sunderdas 23, Anderson Road, Nungambakkam, Chennai-600 006.

... Respondent / Debtor APPLN.NO. 192 OF 2016 The Official Assignee, High Court, Madras ... Applicant -VS1.S.Arjunlal Sunderdas 23, Anderson Road, Nungambakkam, Chennai-600 006.

...1st Respondent / Insolvent 2.Entourge-Erneko Trading Co., No.189, Vrindavan Enclave, 400, Lloyds Road, Gopalapuram, Chennai 600 086.

... 2nd Respondent/ Third Party/Debtor

Application praying that this Hon'ble Court be pleased to direct the 2nd respondent to pay a sum of Rs.1,80,00,000/- with interest at 18% p.a. from 21.04.2014 till date of realization with cost of the recovery proceedings.

This above application coming on this day before this court for hearing in the presence of Mr.K.V.Ananthakrushnan, advocate for the Official Assignee of this Court, the applicant herein; and upon reading the Judges Summon and Report of the Official Assignee filed herein and The Court made the following order:- Perused the Petition and the deposition.

2.It is brought to the notice of this Court that the second respondent has appeared before the Official Assignee and given a letter admitting the liability of Rs.1,80,00,000/- and has deposited Rs.10/- lakhs as first instalment and had sought time to deposit the balance amount of Rs.1,70,00,000/- (Rupees One Crore Seventy Lakhs only) within a period of three months ending on 20.11.2018. Thereafter the second respondent has not made any further deposit.

3.In the light of the above facts, this Court records the letter given by the second respondent as an admission of liability and a decree is passed accordingly.

4.Three months time is granted to the judgment debtor to pay the balance amount of Rs.1,70,00,000/- from today, failing with the Official Assignee can proceed futher in accordance with law.

WITNESS, THE HON'BLE SHRIMATI, VIJAYA KAMLESH TAHILRAMANI, CHIEF JUSTICE, HIGH COURT AT MADRAS, AFORESAID THIS THE 23rd DAY OF JANUARY 2019.

SD/- ASSISTANT REGISTRAR(OS-I) //CERTIFIED TO BE TRUE COPY// DATED THIS THE DAY OF 2018 MANAGER INSOLVENCY OFFICE From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.

cns-28.01.2019 HIGH COURT, MADRAS APPLN. No.192 OF 2016 IN I.P.NO.25 of 2014 THE HON'BLE DR.JUSTICE G.JAYACHANDRAN AND THE HON'BLE MR.JUSTICE C.V.KARTHIKEYAN ORDER DATED: 23.01.2019 FOR APPROVAL: 28/01/2019 APPROVED ON : 29/01/2019 COPY TO:- The Official Assignee, High Court, Madras.