K.Srikanth,4,`B`Block, v.

I.P.No.66 of 2000 M.M.SUNDRESH, J Heard the learned Official Assignee.

2.The Official Assignee in his report dated 7.6.2016 submitted that after the order of adjudication, the respondent has failed to file his schedule of affairs, as required under Sections 41 & 23 of the Presidency Towns Insolvency Act, 1909.

3.According to the Official Assignee, the Insolvent failed to file discharge application pursuant to the order of this Court within a period of 18 months from the date of adjudication. It is also stated that the insolvent has disclosed one unsecured creditor for a total sum of Rs.5,87,872/- and assets as Nil. So far, one claim has been received in this estate and the same is pending for enquiry. It is further stated that a sum of Rs.59/- is available in the estate. Under the above circumstances, the Official Assignee seeks an order, annulling the order of adjudication under Section 41 of the Presidency Towns Insolvency Act, 1909.

4.In view of the report submitted by the Official Assignee and taking into account the background facts, the order of Adjudication dated 17.8.2000 against the insolvent K.Srikanth is annulled in accordance with Section 41 of the Presidency Towns Insolvency Act, 1909 and the properties of the insolvent shall be vested with the Official Assignee as provided under Section 23(1) of the Presidency Towns Insolvency Act, 1909.

08.06.2016 mmi

M.M.SUNDRESH, J.

mmi I.P.No.66 of 2000 08.06.2016