JUDGMENT - D.K. DESHMUKH, J.:---This Notice of Motion is taken out by the judgment debtors for setting aside the Insolvency Notice dated 30th August, 1999, taken out by the decree holder. The facts that are material and relevant for deciding this Notice of Motion are that in Appeal No. 636 of 1991 the Division Bench of this Court by order dated 26th June, 1992 passed a consent decree, which according to the decree holder is a decree for payment of money. The decree holder took out an Insolvency Notice dated 30th August, 1999 and served it on the judgment debtor on 20th September, 1999. The Notice was taken out under the provisions of the Presidency Towns Insolvency Act, 1909. On being served with that notice the judgment debtor has taken out this Notice of Motion for setting aside that Insolvency Notice on various grounds including the ground that the decree pursuant to which this Insolvency Notice has been taken out is not enforceable, as the decree holder has not contained a leave of the Court required under the provisions of Order 21, Rule 22 of the Civil Procedure Code for execution of the said decree.

2. The Notice of Motion is opposed by the decree holder. According to the d

Click Here to Read the rest of this document