Judgment · High Court · 2006
Case at a glance
Provisions considered
Judgment
Mr. Y.C. Parikh, Official Assignee present. CORAM: DR. D.Y. CHANDRACHUD, J. 21st November, 2006. P.C. : An order of adjudication was passed on 17th August,
1976. The schedule of assets and liabilities was filed by the Insolvent on 12th April, 1978. On 6th March, 1979 an order of annulment of insolvency was passed under Section 21(1) of the Presidency Towns Insolvency Act, 1909. At present a balance of Rs.44/- is lying to the credit of the estate account. The Official Assignee has prayed that this amount may be transferred to the unclaimed dividend capital account under Rule 178 of the Bombay Insolvency Rules, 1910 and thereafter to the unclaimed dividend capital revenue account and the account may be closed for administrative purposes. Having regard to the circumstances set 2 out in the report of the Official Assignee, there is no reason why the prayer should not be granted. Prayer clause (a) of the report of the Official Assignee is accordingly granted.
Questions this judgment answers
Which statutory provisions did this judgment involve?
Presidency Towns Insolvency Act, 1909 — s. 21(1).
Which court decided this case, and when?
Bombay High Court, on 21 Nov 2006. The bench was D Y CHANDRACHUD.
Precedent status how later indexed judgments have treated this case
No known negative treatment found in the Courts & Cases corpus.
This is a result about the indexed corpus, not a finding that the judgment remains good law. Coverage may be incomplete.