MANGHANDAS PARMANAND Vs. KAMLESH M HEMRAJANI

JUDGEMENT

(1.) Insolvency Petition No. 92 of 2006 is presented by Kamlesh Mulchand hemrajani for an order of adjudication against the debtor i. e. Manghandas Paramanand, a partnership Firm having its office at the address mentioned more particularly in the cause title, one Jairam Manghandas Jashnani and one Tulsi p. Jashnani.

(2.) It is alleged that the petitioning creditor is a Karta and Manager of Kamlesh mulchand Hemrajani (HUF ). Debtor No. 1 is a partnership firm and debtor Nos. 2 and 3 are partners of the said firm.

(3.) Insolvency Petition No. 109 of 2006 is presented by one Gopal K. Chawla against Haresh and Tulsi Jashnani. The case of Gopal Chawla is that on 17th October, 2005 a similar bill of exchange was drawn in his favour by the firm of which one of the debtor is partner. This is an on-demand bill of exchange in the sum of Rs. 10,00,000/ -. This was for valuable consideration and in lieu of the firm receiving a sum of Rs. 10,00,000/- by cheque. The bill of exchange was presented on 18th January, 2006 but came to be dishonoured by non-payment. A demand was raised but there was no response. Ultimately, an advocate's letter dated 11th February, 2006 was addressed and subsequently a summary suit being Summary Suit No. 831 of 2006 came to be filed in this Court. The Writ of Summons was duly served. Some of the defendants filed their appearance Debtors did not appear. A summons for judgment was taken out in the said suit. The petitioning creditor is dealing separately with the contents of the affidavit in reply filed to the said summons for judgment. However, there is sum of Rs. 11,52,383. 56 paise due and payable.