Nandlal Balkishin Sahjwani v. Yamini Rao And Another

Before: Mrs. Chandan J. Bhatt Official Assignee, High Court,Bombay Date: 23rd September, 2025 at 12.30 p.m.

R e: 1) Yamini Rao

2) Vinaykumar Ramnivas Pandey Insolvency Petition No. 16 of 2024 Date of Act of Insolvency...

27.08.2024 Date of Petition ...

09.10.2024 Date of Order of Adjudn ...

07.05.2025 ------------------------------------------------------------------------------------------ Insolvent No. 1 : Yamini Rao Insolvent No. 2 : Vinaykumar Ramnivas Pandey Advocate for the Insolvents: Mr. Gulabchand Vishwakarma i/b. Mr. K. C. Tiwari.

Petitioning Creditor : Shri. Nandlal Sahajwani. Advocate for the Petitioning Creditor: Ms. Kavita Lalwani 1.

Mentioned not on board.

2.

Both the Advocates for Petitioning Creditors as well as for Insolvents are present and mentioned this matter to submit that as discussed yesterday, they have arrived at settlement in term of the consent terms and on the basis of it, matter can be settled.

3.

Total agreed consideration is Rs.18,00,000/-(Rupees Eighteen Lakhs Only) which is to be repaid equally in 9 months (i.e. Rs.2,00,000/ per month). First instalment of Rs.2,00,000/-(Rupees Two Lakhs Only) will be paid by well-wisher of the Insolvent to the Petitioning Creditor on 15th October, 2025 and rest of the instalments of Rs.2,00,000/-(Rupees Two Lakhs Only) on 20th day of each remaining months and in case of default Official Assignee will proceed with the private examination of the

: 2 :

Insolvent.

4.

Advocate for the Insolvent further submits that, as matter is settled now the private examination may be taken up in case of default only and inventory which was fixed would not be carried out. The said request is accepted. Registry is directed not to carry out inventory in respect of residential premises of the Insolvent on the date fixed earlier. 4.

Accordingly, both the Advocate requested to place the matter on 15th October, 2025 to file the consent minutes of order as per draft prepared and placed before me today and to handover the first instalment amount to the Petitioning Creditor. The said draft is taken on record. Advocate for the Insolvent submits that the well-wisher is based from out of India and therefore payment will be made through NEFT. Petitioning Creditor is requested to provide RTGS/NEFT details to the Advocate for the Insolvent.

Per O.A.:

5.

In view of the above, today's meeting stands adjourned to 15th October, 2025 at 12.30 p.m.

(Chandan J. Bhatt) Official Assignee MAS/CJB /home/ubuntu/Desktop/Minutes of OA/Yamini Rao INPT 16 of 2024.doc