OFFICIAL ASSIGNEE OF MADRAS Vs. SURESH ELECTRIC COMPANY

JUDGEMENT

(1.) The Official Assignee appeals from an order of Palaniswamy J., who dismissed his application for delivery to him of two machineries as belonging to the insolvent before his adjudication relying on the doctrine of reputed ownership under Section 52 (2)(c) of the Presidency Towns Insolvency Act.

(2.) The insolvent is one Raj Krishna Sharma. He was adjudicated on his own petition on 11th January, 1971. He had been carrying on business under the name and style of Raj Cable Industries, manufacturing and selling P.V.C. Cables and Wires. He had his business premises in Linghi Chetty Street and his factory at Kakalur, Tiruvellore Taluk. He purchased two machineries, one in December, 1967 for Rs. 14,935 and the other in December, 1969 for Rs. 26,162. They were both purchased from one Bharat Bhushan Sharma, said to be his son-in-law. The Official Assignee's application related to recovery of possession of these two-machines.

(3.) The applicant was resisted by his son-in-law and also Messrs. Suresh Electric Company. So far as the son-in-law was concerned, he claimed to have advanced some monies to his father-in-law and for amounts due from him, he had taken possession of the machinery from his father-in-law. This case was not found by the learned Judge. The question does not arise for our consideration over again.