ORDER :- This a petition by three creditors to adjudge the respondent as insolvent under Ss.9(d)(ii) and (iii), 10, 11, 12 and 13 of the Presidency Towns Insolvency Act, hereinafter referred to as the Act.

2. According to the petitioners, the respondent borrowed from the 1st petitioner a sum of Rs. 15,000/- on 11-9-1980 bearing interest at 24% per annum; a sum of Rs. 15,000/- on 6-2-1982 bearing interest at 30% per annum, a sum of Rs. 5,000/- on 9-11-1983, bearing interest at 30% per annum and another sum of Rs. 7,000/- on 30-10-1983, bearing interest at 30% per annum; in all, the respondent has borrowed a sum of Rs. 42,000/- from the 1st petitioner. He has borrowed from the 2nd petitioner a sum of Rs. 1,500/- on 22-12-1982 with interest at 36% per annum; a sum of. Rs. 65,000/- on 1-10-1983 with interest at 36% per annum; a sum of Rs. 5,000/- on 19-10-1983, with interest at 42% per annum; a sum of Rs. 21,000/- on 9-1-1984, with interest at 12% per annum; a sum of Rs. 70,000/- on 25-5-1984, with interest at 36% per annum; and a sum of Rs. 20,000/- on 22-8-1984, with interest at 36% per annum; in all, he has borrowed from the 2nd petitioner a sum of Rs. 1,82,500/-. The respon