JUDGMENT - S.A. BOBDE, J.:---This appeal is preferred by a creditor of M/s. Enarai Finance Limited of which the respondent is the Managing Director. In the appellant's petition for winding up, consent terms dated 23-5-1998 were recorded and an order was made in terms thereof. Upon the company admitting its liability and agreeing to pay certain instalments, the respondent, who was the Managing Director of the company, agreed to an order guaranteeing the payment of the amounts due. He further agreed for the performance of the consent terms. Upon failure of the company to make payment in accordance with the order of the Company Court recording the consent terms, the appellant applied to this Court on 15-4-1999 for issue of an insolvency notice to the respondent. Upon the Insolvency Register raising an objection to the issue of insolvency notice, the appellant applied on 11-6-1999 to the learned Single Judge of this Court, who rejected the application and upheld the objections of the Insolvency Registrar by an order dated 11-6-1999. This appeal is preferred against that order. Since the original application is for permission to issue a notice of insolvency against the respondent, norma

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