T CHANDRASEKHARAIAH Vs. D SREERAMULU

JUDGEMENT

(1.) this civil miscellaneous second appeal is filed against the concurrent judgments in i.p. No.1 of 1994 and a.s. No.27 of 2000 rendered by the court of senior civil judge, rayachoti, and the principal district judge, kadapah, respectively.

(2.) the appellant filed i.p. No.1 of 1994, under Section 10 of the provincial insolvency act, 1920 (hereinafter referred to as "the act"), to adjudge him as insolvent he pleaded that he is indebted to respondents 1 to 46, to the tune of Rs.13,57,000/-, the details of which arc furnished in schedule 'a'. It is his case that the house in 'b' schedule, was his immovable property, but was agreed to be sold in favour of the first respondent, through an agreement of sale, dated 10.2.1999, for a sum of Rs. 1,20,000/-, and that a sum of Rs. 1,00,000/- was received as advance.

(3.) the petition was resisted by respondents 2 to 5, 12 and 43 only. Rest of the respondents remained ex parte. The contesting respondents pleaded that the debts pleaded towards other respondents are fictitious, and that the appellant suppressed various items of property held by him. They contended that having regard to the income derived by him in the form of salary, and properties possessed by him, the appellant cannot be adjudged as insolvent. The trial court dismissed the i.p. No.1 of 1994, through its Order, dated 23.2.2000. Aggrieved thereby, the appellant filed a.s. No.27 of 2000, through its judgment, dated 3.9.2001, the lower appellate court dismissed the appeal.