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2011 Supreme(Mad) 3033

K.B.K.VASUKI
P. R. Pajus (Debtor), Proprietor, P. R. Karuppaiah Nadar And Co. – Appellant
Versus
P. Uma Maheswaran – Respondent


Advocates Appeared:
R.Anand Kumar, J.Maria Roseline, K.Hema Karthikeyan

JUDGMENT

( 1. ) THIS Civil Miscellaneous Appeal is filed against the order made in I.A. No. 550 of 2010 in I.P. No. 48 of 2004 filed under Order 18 Rule 1 and Section 151 C.P.C. directing the first respondent to begin the evidence.

( 2. ) THE parties are referred to in the order as per the rank given in the insolvency petition. THE petitioner/creditor filed insolvency petition against the first respondent for declaring him as insolvent and to appoint an official receiver to take over the properties belonging to the first respondent to administer the same. THE petitioner has come forward with insolvency application on the ground that the first respondent is indebted to the petitioner and others to the tune of Rs.2,59,00,000/-as per the particulars contained in "A" Schedule and the first respondent is owning movable and immovable properties worth about Rs.1,48,85,000/- as per the particulars contained in "B" Schedule and the total liability of the first respondent exceeds the total assets owned by him and he entered into sale transactions with third parties in order to defeat the right of the creditors and has thus committed an act of insolvent and is hence to be declared as insolvent



















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