KRISHNA GANPAT KAREKAR Vs. PRADIP JANARDAN MANGAONKAR

JUDGEMENT

(1.) The Petitioning creditor has invoked the provisions of The Presidency Towns Insolvency Act, 1909 (for short, the Insolvency Act).

(2.) The basic facts are as under :

(3.) On 12 June, 2003, the Respondent (Pradip) has purchased the property/shop by a registered agreement for sale and the possession of the same was taken forcibly on 17 April 2009 by the SRO (Special Recovery Officer) of the Petitioning Creditor in pursuance to the Recovery Certificate dated 10 April 2009. The SRO has knowledge of the transaction of the year 2003.