- (1.) Leave granted.
(2.) This appeal arises out of the impugned judgment and order passed by the High Court of Judicature at Madras in O.S.A.No.293 of 2005, dated 30.07.2008. By the impugned judgment and order, the High Court has rejected the prayers made by the appellant, late Smt. Rajeswari, who is now represented by her Legal Representatives in Application No.461 of 2004 in I.P.No.79 of 1972.
(3.) The instant case has a checkered history. One B.C. Munirathinam Naidu had filed an Insolvency Petition No.79 of 1972 before the Trial Court under the provisions of the Presidency Towns Insolvent Act of 1909 (for short 'the Act'). The aforesaid proceedings reached up to this Court in a Special Leave Petition in I.A.No.2646 of 1979. This Court, vide its order dated 29.03.1982 had disposed of the application and directed that the property of the insolvent could be sold and the creditors be paid out of the sale proceeds. The orders so passed by this Court was accepted by the parties concerned.;