M/S. Neat Networks A Partnership Firm Represented Herein By Its Managing Partner Mr.Bhagwan Tekchan v. Nil

IN THE HIGH COURT OF JUDICATURE AT MADRAS

(IN INSOLVENCY) FRIDAY, THE 16TH DAY OF OCTOBER 2020 THE HON'BLE MS.JUSTICE P.T. ASHA APPLN. No.15 of 2020 IN I.P. No.19 of 2019 I.P. No.19 of 2019 In the matter of Presidency Towns Insolvency Act, III of 1909 and In the matter of Neat Networks a Partnership Firm, Rep by its Partners Bhagwan Tekchand, Geetha Bhagwadas & Ram Bhagwandas ... Debtors 1.M/s.Neat Networks, Represented herein by its Managing Partners Having its Registered Office at Ground Floor, Pantheon Apartments, 52, Pantheon Road, Egmore, Chennai 600 008.

2.Bhagwan Tekchand, Flat No.40, 6th Floor, Pantheon Apartments, 52, Pantheon Road, Egmore, Chennai 600 008.

3.Geetha Bhagwandas,

Flat No.40, 6th Floor, Pantheon Apartments, 52, Pantheon Road, Egmore, Chennai 600 008.

4.Ram Bhagwandas, Flat No.40, 6th Floor, Pantheon Apartments, 52, Pantheon Road, Egmore, Chennai 600 008.

... Petitioners/Debtors APPLN.NO. 15 OF 2020 Ram Bhagwandas, Flat No.40, 6th Floor, Pantheon Apartments, 52, Pantheon Road, Egmore, Chennai 600 008.

... Applicant / 4th Petitioner .. vs ..

The Official Assignee, High Court of Madras, Chennai 600 104.

... Respondent Application praying that this Hon'ble court be pleased to permit the applicant to take up employment with M/s. GOAL at Colombo, Sri Lanka on terms and conditions that this Hon'ble Court may consider reasonable. This above application coming on this day before this court for hearing in the presence of Mr. Prakash Goklaney, advocate for the Applicant/4th Petitioner herein and the Official Assignee, Respondent

herein; and upon reading the Judges summon and affidavit of Ram Bhagwandas filed herein and the court made the following order:- The above Petition has been filed by the Applicant seeking leave to take up employment outside the country at Srilanka. The dues of the insolvent runs to a sum of over Rs. 6 crores. In the affidavit filed in support of the said application, the insolvent has stated that he is taking up an employment with a partnership firm, M/s. Goal at Colombo, Srilanka on a remuneration of 70,000 Srilankan Rupees.

2. This court has directed the counsel for the applicant to verify as to whether the prospective employer of the insolvent would give an undertaking that he would remit a portion of the salary to the Official Assignee to the credit of I.P. in the name of the Official Assignee. The prospective employer shall file an affidavit giving the exact details of the salary that he proposes to pay the Applicant so that the Court can quantify the monthly remittance that the employer has to make to the credit of the IP. The prospective employer shall also undertake to remit this amount every month to the credit of the above Insolvency Proceedings.

3. Post the matter on 06.11.2020 for filing the affidavit. WITNESS, THE HON'BLE THIRU AMRESHWAR PRATAP SAHI, CHIEF JUSTICE, HIGH COURT AT MADRAS, AFORESAID THIS THE 16TH DAY OF OCTOBER 2020.

SD/- ASSISTANT REGISTRAR Original Side - II //CERTIFIED TO BE TRUE COPY// DATED THIS THE DAY OF 2020 MANAGER INSOLVENCY OFFICE From 25th Day of September 2008 the Registry is issuing certified copies of the Orders/Judgments/Decrees in this format.

PK 02/11/2020 HIGH COURT, MADRAS APPLN. NO. 15 OF 2020 IN I.P.NO.19 OF 2019 ORDER DATED: 16/10/2020 THE HON'BLE MS.JUSTICE P.T.ASHA FOR APPROVAL:02/11/2020 APPROVED ON :02/11/2020 COPY TO:-

1. THE OFFICIAL ASSIGNEE HIGH COURT, MADRAS.

2. M/s. GOAL 132/2A, OLD KOTTE ROAD, RAJAGIRIYA, COLOMBO, SRILANKA