INPT/19/1953 of MODERN CONSTRUCTION CO. Vs KHANBAHADDUR M. YUSUF AHMED PAI on 20 October 1953

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

IN ITS INSOLVENCY JURISDICTION

OFFCIAL ASSIGNEE'S REPORT DT.18TH NOVEMBER, 2006INPETITION NO.19 OF 1953

Re: Khanbahaddur Mohammed Yusuf Ahmed Pai..Insolvent.

Ex-parte:Modern Construction Co.

.. Petitioning Creditor....

Mr. Y.C. Parikh, Official Assignee present.

CORAM: DR. D.Y. CHANDRACHUD, J.

21[st] November, 2006.

P.C.:

An order of adjudication was passed on 20[th] October,

1953. The Official Assignee declared a dividend @ 0.100 paise ina rupee to the unsecured creditors on their proved liability ofRs.1,71,012/- on 14[th] December, 1970. At present an amount inthe aggregate of Rs.20,117.37 is lying to the credit of the estateaccount. The Official Assignee has prayed that this amount maybe transferred to the unclaimed dividend capital account underRule 178 of the Bombay Insolvency Rules, 1910 and thereafter tothe unclaimed dividend capital revenue account and the accountmay be closed for administrative purposes. Having regard to the circumstances set 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.