PATANJALI SASTRI
K. Lakshmappa – Appellant
Versus
Talasani Venkata Reddi – Respondent
Patanjali Sastri, J.
1. These two connected appeals arise out of applications presented to the Court of the District Judge, Anantapur, exercising jurisdiction in insolvency for scaling down the debt due to the appellant in each case in accordance with the provisions of the Madras Agriculturists Belief Act. The appellant in CM.A. No. 606, held a promissory note executed by the insolvent debtor, the respondent in these appeals, and the appellant in C.M.A. No. 607, had obtained a decree against him. Both the creditors had proved their debts but the respondent objected to their payment in full by the Official Receiver on the ground that the debts should be scaled down under the Madras Agriculturists Relief Act. The Official Receiver overruled the objection and paid the full amount of the principal with interest at six per cent, per annum as provided in Section 48 (2) of the Provincial Insolvency Act. Thereupon the respondent filed I.A. Nos. 21 and 31 of 1939 in the Court below praying that the debts should be scaled down and that the sums paid by the Official Receiver in excess of the amounts due as scaled down, should be recovered from the appellants. While these applications w
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.