VASU Vs. POPULAR BANK

JUDGEMENT

(1.) The application of the petitioner under S.7, 10 and 13 of the Kerala Insolvency Act, for short, The Insolvency Act, for getting himself adjudicated as insolvent was dismissed by the Sub Court, Ernakulam. On appeal the Appellate Court confirmed the said order, and it is against that judgment of the Appellate Court, this revision is filed.

(2.) Facts essential to decide the issue, lie in a narrow compass. The petitioner on a previous occasion bad filed IP 3 of 1978 for adjudication as insolvent, under S.7, 10 and 33 of the Insolvency Act. This petition was dismissed for default on 16-10-1980. The application to restore the petition was dismissed on 24-2-1983. The petitioner challenged that order in appeal. The Appellate Court confirmed the order. The petitioner thereafter filed the present application under S.7, 10 and 13 of the Insolvency Act from which this revision arises.

(3.) The facts disclosed from the files of the case do show that the petitioner filed both the applications for getting himself adjudged as insolvent, with a view to set at naught the order of arrest issued by the execution court where the first respondent bad initiated proceedings to execute the decree in OS 33/74. Both the petitions, i.e., IP 3 of 1978 as also the present application from which this revision arises, were presented under S.10(1)(b) of the Insolvency Act.