HARIRAM Vs. K. I. ZACHARIAH

JUDGEMENT

(1.) THIS is a petition under Section 9 (e) of the Presidency Towns Insolvency Act (hereinafter referred) to as the Act) seeking to adjudicate the respondents as insolvents on the ground that attachment of the movables of the debtors were subsisting for a period exceeding 21 days.

(2.) BY an ex parte order passed on 24 -7 -1974, the respondents were adjudicated as insolvents. That order was later on set aside. Subsequently, on behalf of the second respondent (I. S. K. Menon), it was stated that there was no defence to the petition and, therefore, he was adjudicated insolvent by an order of Sethuraman J. dated 19 -8 -1974. Hence, the only question that survives is whether the first respondent could be adjudicated as insolvent.

(3.) ON the side of the petitioner, Exs. P. 1 to P. 15 have been marked, while Exhibits on the respondent's side consist of Rule 1 to R. 7. On behalf of the petitioner, P. W. 1, the petitioning creditor, was examined and he speaks to the fact of attachment and that the amount was borrowed for the benefit of the first respondent. The first respondent has been examined as R. W. 1, who, in his oral evidence would state that the promissory note on which the decree was sought was a printed form and the blanks were filled up by his son and because the creditor insisted upon R. W. 1 signing it, he signed it as the proprietor of Zacharia Stores, since the creditor wanted it that way.