Heard both sides.

2. Counter of Third Respondent is filed.

3. According to the Petitioner, while he was working as Reader in Commerce at T.B.M.L. College, Poraiyar, on 31.05.2007, he retired from service voluntarily. Later, he worked as Principal in RVS Arts and Science College, Karaikal and now he is the pensioner. Furthermore, all the Gratuity and commuted pension received after his retirement was deposited in 'Almighty Investment Solution', Karaikudi and 'Max-Pro Marketers Private Limited'.

4. The stand of the Petitioner is that his son's friend viz., Aramudhan requested him to help to invest his money in the same Company. Therefore, his son introduced Aramudhan to 'Max-Pro Marketers Private Limited' and 'Almighty Investment Solution' and enabled him to invest money with the aforesaid companies. Unfortunately, while the said Aramudhan invested the money, his son had no inkling that those two companies were in trouble. But, both the companies, within a short time, were closed down, after his money was invested in those companies. As a matter of fact, the 'Almighty Investment Solution' filed an application for insolvency before the Hon'ble High Court, Madras and insofar as the