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2016 Supreme(Ker) 330

P.R.RAMACHANDRA MENON, ANIL K.NARENDRAN
P. RAMACHANDRAN NAIR – Appellant
Versus
PRINCE THOMAS – Respondent


Advocates Appeared:
For the Appellant : ADV. SRI.G.S.REGHUNATH
For the Respondent: ADV. SRI.R.SANJITH. R4 & R14 BY ADV. SRI.V.PHILIP MATHEW. R11 BY ADVS. SRI.V.SURESH, SRI.G.SUDHEER. R27 BY ADV. SMT.S.MUMTAZ. ADV. SRI.K.L.HAREESH KUMAR, THIRD PARTY. ADV. SRI.GOVIND PADMANAABHAN.R., THIRD PARTY.

JUDGMENT :

P.R. Ramachandra Menon, J.

These three appeals arise from a common cause of action in relation to the order dated 11.03.2008' passed by the court below (lower Appellate court), whereby the appeals preferred against the verdict of the Trial court-Insolvency Court [declaring the concerned respondents/counter petitioners 1 to 26 as insolvents, causing recovery of the due amount by selling the assets] which were dismissed on 07.03.2008, [referring to the 'settlement' arrived at as per the approved scheme and based on the submission made by the learned counsel for the appellant that the appeals were not pressed] strangely came to be allowed on 11.03.2008, in turn setting aside the judgment passed by the Trial Court, without any application for review or without hearing the affected parties/the present appellants. The effect of the subsequent order dated 11.03.2008is that, the verdict dated 07.03.2008 has been 'suo motu' reviewed by the lower Appellate court, taking a diametrically opposite view/course allowing the appeals and annulling the verdict passed by the Insolvency court referring to the 'settlement' under the scheme to be made in conformity with the provisions of the In




















































































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