VELOO Vs. OFFICIAL RECEIVER DISTRICT COURT ALLEPPEY

JUDGEMENT

(1.) The counter petitioner in CMP. 362 of 1959 in I. P. 24 of 1958 filed by the Official Receiver, Alleppey, under S.55 of the Travancore - Cochin Insolvency Act 1955 (Act II of 1956) is the appellant.

(2.) One Sarojini Amma has been adjudicated insolvent in I. P. 24 of 1958 on the file of the Subordinate Judge's Court, Alleppey at the instance of the creditor CPW. I. The appellant before this court obtained a decree in O. S. 599 of 1955 on the file of the Munisiff's Court, Shertalai, against Sarojini Amma and in execution of the said decree purchased the property scheduled to CMP. 362 of 1959 in court auction on 31-7-1956 for a sum of Rs. 810-13-9. The sale was confirmed on 30.8.1956. The court sale was relied on as an act of insolvency in I. P. 24 of 1958. The Official Receiver filed CMP. 362 of 1959 for annulment of the court sale in O. S. 599 of 1955. The application was allowed by the learned Subordinate Judge of Alleppey and the decision was confirmed in appeal by the learned District Judge of Alleppey. The second appeal is directed against the decision of the learned District Judge.

(3.) It is agreed on behalf of the Official Receiver that the relevant provision applicable is S.55(1) of Travancore - Cochin Insolvency Act (Act II of 1956) which reads thus: