JUDGEMENT
Bhattacharya, J. -
(1.) This first miscellaneous appeal is at the instance of
an alleged debtor in a proceeding under Section 13(2) of the Provincial
Insolvency Act ("Act") and is directed against Order No. 18 dated 9th March,
2005 passed by the Additional District Judge, 13th Court, Alipore in Insolvency
Case No. 468 of ,2004 thereby disposing of an application under Section 20 of
the Act by appointing Official Receiver South-24 Parganas as interim receiver
over the estate of the appellant.
(2.) The respondent herein filed the proceedings under Section 13(2)
of the Act thereby giving rise to Insolvency Case No.468 of 2004 praying for
adjudicating the appellant as insolvent and the case made out by the respondent
may be summed up thus:
"(a) The appellant, borrowed a sum of Rs.1,10,000/- on 17th
December, 2001 from the respondent by executing a promissory
note thereby undertaking to repay the same with interest at the
rate of 1.2 per cent per annum till realisation. The total claim of the
respondent with interest came to Rs.1,13,000/-.
(b) The appellant had committed the following acts of
insolvency:
(i) On repeated demands verbally the appellant failed to repay
and on demand under registered post with A/D. sent through
lawyer at his working address, the said notice came back
with the postal remark "Not Claimed" as the appellant
intentionally did not receive the same.
(ii) In spite of the aforesaid demand, the respondent and his
agent visited the residence of the opposite party for making
d.emand and personal contact but the appellant with bad
motive and intention, to defeat and delay the payment of
the due payable to his creditors, secluded himself so as to
deprive his creditors. He further secluded on 23rd May, 2004
at about 9:00 a.m. at his residence.
(iii) Lastly, on 13th June, 2004, when the respondent met at his
residence at about 8:30 a.m. he told and informed the
respondent as well as his agent that he had suspended
payment of his debts to all his creditors generally including
the respondent in particular, being unable to pay his debts
to his creditors."
(3.) In connection with the aforesaid proceedings, the respondent came
up with an application under Section 20 of the Act thereby praying for
appointment of an interim receiver for the purpose of attaching the salary of
the appellant. In the said application the respondent further alleged that appellant
was working for gain as an employee under M/s. Syndicate Bank, Alipore Branch
and was drawing a sum of Rs. 13,000/- a month and prayed for a direction
upon the Bank Authority to deposit every month a sum of Rs.3,000/- to the
Official Receiver.;
Click here to view full judgement.
Copyright © Regent Computronics Pvt.Ltd.