R.SWARNAVEL Vs. LOGARANI

JUDGEMENT

(1.) This Civil Miscellaneous Appeal has been filed against the order, dtd. 9/9/2021, passed in I.A.No.20 of 2018 in I.P.No.37 of 2017, on the file of the Additional District Judge (FTC), Theni. The appellant herein is the respondent in I.A.No.20 of 2018 and creditor-petitioner in I.P.No.37 of 2017. The respondent herein is the petitioner in I.A.No.20 of 2018 and third respondent in I.P.No.37 of 2017.

(2.) Brief substance of the petition filed by the petitioner, in I.A.No.20 of 2018 in I.P.No.37 of 2017, is as follows:

(3.) Brief substance of the counter filed by the respondent, in I.A.No.20 of 2018 in I.P.No.37 of 2017, is as follows: The respondent herein has filed the petition in I.P.No.37 of 2017 to adjudicate the first respondent in the main petition as insolvent and to vest his property as on the date of filing of I.P.No.4 of 2015 in the hands of the Official Receiver for sale and an equitable distribution of proceeds amongst his creditors. The first respondent in the main petition filed an insolvent petition under Sec. 10 of the Provincial Insolvency Act, in I.P.No.4 of 2015 before the Principal District Judge, Theni, to declare him as an insolvent. That petition was dismissed for default. The Act of insolvency committed by the first respondent, by name, Vignesh Gandhan, is a continuing one that he himself has moved a petition, for restoration of I.P.No.4 of 2015, hence, the respondent in I.A.No.20 of 2018 was mentioned as creditor No.101 in I.P.No.4 of 2015. Hence, the respondent herein is entitled to file I.P.No.37 of 2017. The said Axis Bank was mentioned as the first respondent in I.P.No.4 of 2015. There are 121 respondents in I.P.No.4 of 2015 and the petitioner herein is well aware of the proceedings in I.P.No.4 of 2015. The third respondent in I.P.No.37 of 2017 colluded with the first respondent/Vignesh Gandhan, who is the petitioner in I.P.No.4 of 2015 to cheat the other 120 creditors, had filed this petition. The petitioner settled the amount for the first creditor mentioned in I.P.No.4 of 2015, but also had settled the claim of the second creditor, viz., Govindahan, who had filed a recovery suit and got an attachment order. Hence, the debtor -Vignesh Gandhan is to be declared as an Insolvent and his properties mentioned in I.P.No.4 of 2014 are to be brought for sale.