The Official Assignee v. S.Buddhan
A(I.P.)Nos.133 & 134 of 2023 Krishnan Ramasamy, J., 1.1 A(I.P.)No.133 of 2023 in I.P.No.15 of 2018 :- This application is filed seeking for an order permitting the Official Assignee to disburse the sum of Rs.78,104/- to the proved unsecured creditor/petitioning creditor, Sunitha.
1.2 A(I.P.)No.134 of 2023 in I.P.No.15 of 2018 :- This application is filed to pass an order, annulling the order of adjudication, dated 09.08.2018, passed against the debtors, S.Buddan and B.Bharathi as insolvents in I.P.No.15 of 2018. 1.3 A(I.P.)No.135 of 2023 in I.P.No.15 of 2018 :- This application is filed to pass an order closing the administration of insolvency proceedings in I.P.No.15 of 2018.
2. Mr.V.Devanathan, learned Official Assignee submits that entire amount of debtors have been settled to the creditors by the amount received from the debtors and that, the debtors also paid outstanding dues, and as on date, there is no outstanding due against the debtors. Therefore, learned Official Assignee seeks permission of this Court to disburse a sum of Rs.78,104/- to the proved unsecured creditor/petitioning creditor and to close administration of insolvency proceedings in I.P.No.15 of 2018. Krishnan Ramasamy, J., 1/3
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3. Heard Mr.T.Srikanth, learned counsel for the respondents on the aforesaid submission of the learned Official Assignee and perused the records.
4. Considering the submissions made by the learned Official Assignee, and in view of the fact that the entire claim has been settled and there is no outstanding liability against the debtors, the Order of adjudication, dated 09.08.2019 is annulled. Consequently, administration of insolvency proceedings in I.P.No.15 of 2018 stands closed and the learned Official Assignee is permitted to disburse the sum of Rs.78,104/- to the proved unsecured creditor/petitioning creditor, Sunitha.
5. Consequently, applications Nos.133 to 135 of 2023 in I.P.No.15 of 2018 are ordered, as prayed for.
19.06.2023 sd A(I.P.)Nos.133 & 134 of 2023 2/3
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