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1951 Supreme(Ker) 48

KOSHI, GANGADHARA MENON
Ramayyan – Appellant
Versus
Official Receiver – Respondent


Judgment :-

1. This is an appeal from an order annulling the adjudication order passed in I.P. No. 10 of 1120 on the file of the Trichur District Court. The petitioning creditor, who is the appellant before this Court, held a usufructuary mortgage for an amount of Rs. 8000/- over the debtor's properties in the erstwhile Cochin State. The document in that behalf was executed by the debtor's natural guardian, his mother. It would appear, the mother as guardian had borrowed another sum of Rs. 2000/- from the mortgagee on behalf of her minor son and executed a pro-note in respect thereof. This pro-note was dated 28.10.1119. Not long afterwards the minor came of age and on 13.8.1120 he assigned the mortgaged properties to the 1st respondent in this appeal for a consideration of Rs. 12,250/-. The appellant's mortgage debt was reserved for payment by the vendee, but no provision was made for the debt due under the promissory note. Founding this sale in favour of the 1st respondent as an act of insolvency, the appellant on 6.11.1120 filed an application, since registered as I.P.No 10 of 1120, to get the debtor adjudged an insolvent. The debtor's mother was also made a counter petitioner to









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