G.YETHIRAJULU
Kamarapu Sivakumar – Appellant
Versus
Sirimalla Ashok – Respondent
( 1 ) THIS Revision Petition is filed by a third party creditor against the order of the Principal Subordinate Judge, Warangal in Memo S. R. No. 2243/2000 in E. P. No. 44/98 dated 4. 8. 2000.
( 2 ) THE E. P was filed by the first respondent for realization of amount by way of sale of certain property attached in the suit before the judgment. During the pendency of the E. P, the second respondent filed IP No. 4 of 1992 and he was adjudged as an insolvent. The revision petitioner is also one of the creditors of the insolvency proceedings. Subsequent to the adjudication, the properties were entrusted to the Official Receiver and the Official Receiver after sale of the properties of the judgment debtor deposited the sale proceeds in the insolvency court. When the decree holder made an application, covered by i. A. No. 702 of 2000, to send for the amount and to issue a cheque for the amount covered by the E. P, the Official Receiver filed a memo stating that since the decree holder is one of the creditors in the IP and as the amount realized by way of sale of properties of the JDR, has to be distributed among the creditors on proof of debts, the first respondent cannot
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.