Acknowledgment of debt by a respondent can result in a decree irrespective of financial difficulties, establishing a clear path for claims under liquidation proceedings.

JUDGMENT

The Liquidator has filed a claim dated 11.05.2023 seeking a decree against the respondent for a sum of Rs.10,530/- along with interest, at the rate of 12% per annum from the date of default i.e., 21.09.2021 till the date of realisation.

2. Respondent entered appearance in person, and submits that he is ready to pay the principal amount and some leniency may be shown in the matter of interest, since he is in serious financial difficulty.

After hearing the learned Counsel for the claimant Liquidator, and the party respondent who is appearing in person, I am inclined to decree the company claim for an amount of Rs.10,530/- (Rupees Ten Thousand Five Hundred and Thirty only) and Rs.1000/- (Rupees Thousand only) towards interest which shall be paid by the respondent within a period of one month from 26.02.2026 before the Official Liquidator. If the amount is not paid, the respondent will be liable to pay an amount of Rs.10,530/- along with 12%

interest per annum on the said sum from 21.09.2021 till realisation.

Sd/-