M/S. Dalooram Jayanarayan v. V.Ramkumar (Debtor)

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 17.04.2023

CORAM

THE HON'BLE Mr. JUSTICE KRISHNAN RAMASAMY M/s.Daluram Finance and Investment, Company rep by its Partner, J.Harishankar Agarwal ... Petitioning Creditor in both petitions Vs.

V.Ramkumar ...Debtor in both petitions Insolvency Petition filed under Section 9, 10, 11, 12 and 13 of the Presidency Towns Insolvency Act and Order IIIA of the Insolvency Rules to (a) treat this petition as urgent;

(b) adjudicate the debtors as an insolvent;

(c) direct that the estate of the debtors be vested in the Official Assignee of Madras, for the benefit of the General Body of creditors of the debtors;

(d) order that the costs of this petition paid by the official Assignee of Madras, from and out of the estate of the debtors to the petitioning creditor;

For Petitioner in both petitions : Mr.T.Srikanth For Respondent in both petitions : Mr.K.Magesh, for M/s.J.Balagopal 1/4

COMMON ORDER This Insolvency petition is filed to (a) treat this petition as urgent;

(b) adjudicate the debtors as an insolvent;

(c) direct that the estate of the debtors be vested in the Official Assignee of Madras, for the benefit of the General Body of creditors of the debtors;

(d) order that the costs of this petition paid by the official Assignee of Madras, from and out of the estate of the debtors to the petitioning creditor;

2. The learned counsel for the respondent would submit that the respondent in these petitions was adjudicated as insolvent in I.P.No.127 of 2002 vide order dated 28.10.2002 and in I.P.No.123 of 2003 vide order dated 12.03.2004.

3. Therefore, since the debtor was already adjudicated as insolvent, this Court is of the considered view that no further adjudication order is required.

4. In such view of the matter, this Court is inclined to dismiss this petition by granting liberty to the petitioner to file their claims before the 2/4

learned Official Assignee, within a period of 8 weeks from the date of receipt of copy of this order, who will adjudicate their claims in accordance with law.

5. In the result, no further order is required in these petitions. Therefore, these petitions are dismissed with the aforesaid liberty. 17.04.2023 Speaking/Non-speaking order Index : Yes / No nsa 3/4

KRISHNAN RAMASAMY.J., nsa 17.04.2023 4/4