INPT/60/1975 of M/S.FATECHAND HIMATMAL and CO., Vs R. L. GAIKWAD on 17 February 1976

IN THE HIGH COURT OF JUDICATURE AT BOMBAYIN ITS INSOLVENCY JURISDICTION

OFFCIAL ASSIGNEE'S REPORT DT.18TH NOVEMBER, 2006INPETITION NO.60 OF 1975

Re: R. L. Gaikwad..Insolvent.Ex-parte:M/s. Fatechand Himatmal & 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 17[th] February,

1976. The schedule of assets and liabilities was filed by theInsolvent on 20[th] March, 1976. On 20[th] June, 1978 an order ofannulment of insolvency was passed under Section 21(1) of thePresidency Towns Insolvency Act, 1909. At present a balance ofRs.44/- is lying to the credit of the estate account. The OfficialAssignee has prayed that this amount may be transferred to theunclaimed dividend capital account under Rule 178 of the BombayInsolvency Rules, 1910 and thereafter to the unclaimed dividendcapital revenue account and the account may be closed foradministrative 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.