INPT/22/1962 of CHUNNILAL L. DIWAN Vs C.M. TRIVEDI on 3 July 1962

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

IN ITS INSOLVENCY JURISDICTION

OFFICIAL ASSIGNEE’S REPORT DATED 1st DECEMBER, 2006ININSOLVENCY NO. 22 OF 1962

Re: C.M. Trivedi,K.C. Trivedi & Anr.(Joint Estate)Ex-parte :Chunilal L. Diwan.

... Insolvents.

... Petitioning Creditor.

....

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

.....CORAM : DR. D.Y. CHANDRACHUD,J.05th DECEMBER 2006.P.C. :1.An order of adjudication was passed on 3rd July1962. The pro-rata preferential dividend of Rs.0.08 ps.in a rupee was declared on 3rd May, 1968 to thePreferential Creditors and further pro-rata preferentialdividend of Rs.0.4 1/2 ps. in a rupee was declared on29th august 1974. At present, a cash balance of Rs.480.69ps. and Rs.14914/- is invested in Fixed Deposit Thus,total amount lying in the hands of Official Assignee isRs.15,394.69 ps. as against the proved preferential liability of Rs.19,630.74 ps. and unsecured liability of Rs.2,10,586/-.

2. The Official Assignee has sought permission to declare further pro-rata preferential dividend on Proved Preferential Liability of Rs. 19,630.74 ps.