Mithan, J. - (1.) This civil revision filed by the creditor arises out of an order passed by the Additional District Judge, Varanasi, rejecting the creditor's petition for declaring the opposite party as an insolvent.
(2.) The petition was brought on the ground that the three Hundis executed by the opposite party for Rs. 21,939/- in favour of the petitioner, which were payable by 31st Dec. 1952, had not been paid even though the money was demanded. The petition was presented on the ground that the opposite party by dishonouring the Hundis had committed an act of insolvency, that the opposite party had fraudulently executed mortgage deeds and mortgaged his properties with an intention to defeat and delay the claim of the petitioner, that is, the grounds contained in Sec. 6(1) (b), (c) and (g) of the Insolvency Act (hereinafter to be referred to as the Act) were alleged.
(3.) After contest the Insolvency Judge, Gyanpur, passed an order adjudging the opposite party as an insolvent. This order was set aside in appeal mainly on the ground that the provisions of the Act being mandatory and there being no compliance with the provisions of Sec. 13(2) of the Act the petition was not maintainable. It was further held that the opposite party had committed no act of insolvency and that the assets possessed by the opposite party were far more than the liabilities. It is against this order that the present revision has been filed.;