This Notice of Motion has been taken out by the insolvent for an order annulling and/or setting aside an order dated 21.6.2005 adjudicating them insolvents; for an order discharging the Official Assignee and for a declaration that there is no claim of whatsoever nature due on the basis of an ex-parte decree dated 30.6.1989 passed in Summary Suit No.3646 of 1989 against the insolvent.

2. It is not necessary to set out in detail the proceedings which led to the said order dated 21.6.2005 adjudicating the judgment debtors as insolvents. Suffice it to state that the insolvency notice was based on a decree obtained by the judgment creditor in the sum of Rs.38,04,080/- in the said Summary Suit.

3. Thereafter, the judgment debtors settled the Petitioning creditors claim. The petitioning creditor has confirmed that it now has no claim against the judgment debtors. The judgment debtors filed a schedule of assets and liabilities disclosing the Canara Bank and the IDBI Bank (Erstwhile United Western Bank Ltd.) as their creditors. It appears that the claim of IDBI Bank has also been settled.

4. Canara Bank filed O.A. No.256 of 2001 in the Debts Recovery Tribunal, Mumbai, against sev