JUDGMENT

(Prayer: Original Side Appeal filed under Order XXXVI Rule 1 of O.S. Rules r/w Clause 15 of the Letters Patent, to set aside the order of the Learned Judge Dr.Anita Sumanth dated 08.10.2018 in A.No.319 of 2017 in I.P.No.8 of 2017.)

Sunder Mohan, J.

1. Challenging the order passed in A.No.319 of 2017 in I.P.No.8 of 2017 dated 08.10.2018, annulling the order of the Adjudication of the Appellants as Insolvents, the Appellants have preferred the above Intra-Court Appeal.

2. The Appellants, who were partners of an unregistered Partnership Firm, were adjudged as Insolvents in their petition in I.P.No.8 of 2017 dated 31.07.2017. Their claim in the said petition was that they had collected deposits from friends and relatives to fund their business activities, namely Construction and Development of Apartments. They had defaulted in repayment of these deposits and hence they filed the petition to adjudge them as Insolvents. According to the Appellants, the total liability of the Partnership Firm was to the tune of Rs.38,69,06,603/- (Rupees Thirty Eight Crores Sixty Nine Lakhs Six Thousand Six Hundred and Three Only), out of which, Rs.25,04,40,993/- (Rupees Twenty Five Crores Four Lakhs