PIERCE LESLIE INDIA LTD Vs. A. RAMACHANDRAN

JUDGEMENT

(1.) The first respondent in I. P. No. 2 of 1990 - a company - is the petitioner herein. In this revision, the order passed by the Court below dated 23-1-1992 is assailed. The petitioner in I. P. No. 2/90 is the first respondent in this revision. When I. P. No. 2/90, filed under S.7 of the Indian Insolvency Act, to declare the petitioner as insolvent, came up for orders, the revision - petitioner (company) scene to have taken up a plea that the petition is not maintainable as under S.8 of the Act the petition is barred. The court below held that S.8 of the Act will apply only if the 1st respondent is to be declared insolvent. The petitioner in I. P. No. 2/90 who is a debtor to respondents, seek to declare himself insolvent and so the petition is maintainable. The creditor - 1st respondent in the court below - has come up in revision.

(2.) I heard counsel. S.7 and 8 of the Insolvency Act are as follows:

(3.) The court below was justified in holding that the petition filed before it is maintainable. The fact that the first respondent is a company is not a bar for the maintainability of the petition. There is no error of law or error of jurisdiction in the order of the court below.