GANGADHAR VISHNU PURANIK Vs. ANANDJI JETHABAI AND CO

JUDGEMENT

(1.) The insolvent, Ganga-dhar Vishnu Puranik, was originally the Karta of a joint family consisting of himself, his wife and sons. Some time in March 1965 and February 1966, the joint family of the insolvent had created mortgages in favour of Datta-traya Ganesh Shemhekar and others, hereinafter known as the Shembekar Trust, in respect of Survey Nos. 59/1 and 59/6 in village Asudgaon, Taluks Panvel, to secure a total sum of Rs. 3 lacs together with interest. Admittedly, these mortgages of the joint family property were created in respect of joint family debts.

(2.) In April 1970, a suit for the partition of the joint family properties was filed in this Court by one of the sons of Gangadhar Vishnu Puranik, being Suit No. 339 of 1970. In that suit, by an order dated the 14th of September 1970, the Court Receiver was appointed Receiver of the joint family properties by the consent of the parties. After the appointment of the Court Receiver, on or about the 13th of September 1971, an order was passed adjudicating Gangadhar Vishnu Puranik an insolvent. On that date, an order for the stay of the advertisement of adjudication was also passed. On the 14th of October 1971, the appeal Court granted a stay of the order of adjudication passed on the 13th of September 1971. On the 29th of November 1971, the order of stay was modified and it wae limited to a stay of the advertisement only. Some time thereafter, on the 20th of July 1972, another member of the joint family, Ashok, was also adjudicated an insolvent.

(3.) After the order of adjudication against Gangadhar Vishnu Puranik, the Official Assignee was brought on the record of the partition suit which was then pending. In this partition suit, a consent preliminary partition decree was passed on the 12th of December 1977 and the matter was referred to the Commissioner for Taking Accounts for the ascertainment of the shares of the various members of the joint family, including the insolvent. Under the consent terms, it was agreed and declared that the status of the joint family was served as from the 5th of April 1966, The matter is still pending before the Commissioner for taking Accounts.