The Official Assignee v. J.Raghunandanan (Deceased Insolvent) 1.J.Devanathan

ABDUL QUDDHOSE, J.

The Official Assignee, High Court, Madras.

... Applicant (in all Applications) Vs.

J. Raghunandanan ... Deceased insolvent/Debtor J. Devanathan ... Respondent/Petitioning Creditor (in all Applications) These applications have been filed by the Official Assignee seeking for the following directions from this Court:- a) Application No.136 of 2023 has been filed seeking permission for the Official Assignee to disburse the sum of Rs.15,65,781/- remitted by the legal heirs of the deceased insolvent to the only proved unsecured creditor namely the petitioning creditor - Mr.J. Devanathan ; b) Application No.137 of 2023 has been filed seeking permission to pay a sum of Rs.32,420/- towards valuation charge for having valued the insolvent's property bearing Door No.10, Branson Garden Road, Kellys, Chennai - 600 010.

c) Application No.138 of 2023 has been filed seeking permission to close the administration and terminate the insolvency proceedings in IP.No.15 of 2004.

2. A report has been filed by the Official Assignee and in paragraph 24 of the same, he has categorically stated that the entire claim amount in the estate of the deceased insolvent Mr.J.Raghunandanan, has been settled and that the only unsecured creditor who has proved his debt amounting to Rs.15,65,781/-, has to be paid from and out of the funds available in the estate of Mr.J. Raghunandanan (insolvent), the deceased. The Official Assignee has also sought to pay a sum of Rs.32,420/- to the valuer namely Er. Anbarasan, who had valued the property on 5 occasions. The bill of the valuer for a sum of Rs.32,420/- is also placed on record before this Court. On payment of the aforesaid sum, the Official Assignee seeks for termination of the insolvency proceedings in I.P.No.15 of 2004 as per Order VIII Rule 17 of the Insolvency Rules, 1958.

3. Since the report of the Official Assignee dated 01.06.2023, confirms that the entire dues pertaining to the estate of the insolvent Mr.J. Raghunandanan, has been settled by his legal heirs, the directions sought for by the Official Assignee has to be granted by this Court. The Official Assignee has also confirmed that the only debt of Mr.J.Devanathan, who is an unsecured creditor, pursuant to his claim No.127 of 2002, has also been proved and the amount payable to him, is Rs.15,65,781/-, which has to be disbursed by the Official Assignee.

4. For the foregoing reasons, the directions sought for by the Official Assignee in these Applications and in his report dated 01.06.2023 in support of the same, are ordered as prayed for. 17.07.2023 Sni

ABDUL QUDDHOSE, J.

Sni 17.07.2023