A.L.VAIDYA
Pydimarri Venkateswarlu – Appellant
Versus
Pydimarri Jalamma – Respondent
( 1 ) THIS revision petition arises out of I. P. 12/61 on the file of Sub-Court, Kavali, an insolvency petition filed by the respondent against the petitioner.
( 2 ) THE allegations in the petition are that the petitioner executed a promissory note for a sum of Rs. 3950 on 27-10-1959 in favour of the respondent comprising of Rs. 3500 paid by the respondent in cash before the Sub-Registrar and the balance of Rs. 450 subsequently taken by the petitioner from the respondent. It was agreed at the time of execution of the promissory note that the petitioner will not alienate the schedule mentioned property, Contrary to that the petitioner alienated the schedule mentioned property in favour of several persons including one Satyanarayana and others. The respondent believes it to be true that the property was also sold in auction several times. The petitioner except the house at Kanigiri and the same is worth Rs. 12,000 and he owes debts to the tune of Rs. 16,000 to Rupees 17,000 to the creditors.
( 3 ) THE petitioner is unable to discharge the same and has been making an attempt to screen his properties in the name of his partisans. The respondent learns and believes it to
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.