ICDS LIMITED Vs. STATE

JUDGEMENT

(1.) THE insolvent who has taken out this Notice of Motion for various reliefs restricted his case to prayer (I) wherein he has sought an order of annulment of the insolvency under section 21 of the Presidency towns Insolvency Act, 1909.

(2.) THIS Notice of Motion raises the following questions of law :- (A) Does a debtor who is adjudged an insolvent fall within the meaning of the expression "any person interested" used in section 21 of the presidency- Towns Insolvency Act, 1909 ? (B) Is a person interested entitled to maintain an application for annulment under section 21 of the Presidency- Towns Insolvency Act, 1909 on the ground that he ought not to have been adjudged insolvent in cases where the order of adjudication is passed by or confirmed by the Appeal Court or the Supreme court of India ?

(3.) MR. Raghwan submitted that the insolvent is entitled to an order annulling the insolvency, as the entire proceedings were based on an award made and published under the Arbitration and Conciliation Act, 1996. Relying upon the judgment of the Supreme court in (Paramjeet Singh Patheja Vs. ICDS Ltd.), 2007 (4) Bom. C. R. 447 (S. C.) : 2006 DGLS (soft) 780 : A. I. R. 2006 S. C. W. 5718, he submitted that the order of adjudication in respect of the insolvent is void.