R.V.JEEVANRAM Vs. T.MUTHURAMAN

JUDGEMENT

(1.) The civil revision petition is directed against the fair and decreetal orders, dated 29.07.2008, passed in C.M.A.No.20 of 2004, on the file of the Additional District Court / Fast Track Court No.II, Madurai, confirming the fair and decreetal orders, dated 04.08.2003, passed in I.P.No.27 of 1997, on the file of the III Additional Subordinate Court, Madurai.

(2.) The revision petitioner / creditor has laid the insolvency proceedings against the respondent / debtor, under Section 9 of the Provincial Insolvency Act, 1920 (hereinafter, referred to as "the Act ") to adjudicate the respondent / debtor as an insolvent and for other allied reliefs.

(3.) Briefly stated, it is found that based on the assignment of the promissory notes, said to have been executed by the respondent, detailed in the petition and inasmuch as the respondent had failed to repay the borrowed sum, despite notice and on the other hand, attempting to alienate the property belonging to him with a view to defeat the lawful claims of the revision petitioner, accordingly, contending that thereby, the respondent has committed the act of insolvency and to be adjudicated so, the revision petitioner has come forward with the abovesaid petition.