MUNAGA VENKATARAMIAH A REGISTERED PARTNERSHIP Vs. P BUJJAMA

JUDGEMENT

(1.) MISHRA, J.

(2.) A person claiming to be a creditor has moved a petition to declare the debtor-first respondent insolvent. A learned single Judge of this court has found that the petitioner has been able to show that the debt due by the debtor is a liquidated sum amounting to more than Rs. 500/- and the debtor has committed an act of insolvency within three months before the date of presentation of the petition but has dismissed the petition on two grounds; (1) that the debtor has got the capacity to discharge the debts due by her in the event of the same being decreed by a competent forum and (ii) that the application is not bona fide.