(1.) The petitioner before the Additional Senior Civil Judge Court, Eluru, in I.P.No.46 of 2005 preferred this appeal against the decree and judgment dated 17.04.2013 in A.S.No.71 of 2010 on the file of the Court of I Additional District Judge, West Godavari, Eluru, where under the order passed by the Additional Senior Civil Judge, Eluru, dated 30.04.2009 in I.P.No.46 of 2005 was set aside.
(2.) For convenience sake, the parties hereinafter will be referred to as they were arrayed before the trial Court.
(3.) Petitioner Nos.1 and 2 filed I.P.No.46 of 2005 under Section 9 of the Provincial Insolvency Act, 1920 ("the Act" for brevity) to adjudge the first respondent as an insolvent, annul the alienation made by the first respondent in favour of the second respondent as transfer is intended to defeat and delay the claim of creditors and to appoint Official Receiver for general administration.