HIRALAL Vs. FIRM SHRIRAM SURAJBHAN

JUDGEMENT

(1.) This is a petition under Article 133(1) (c) asking us to certify that this is a fit case for appeal to the Supreme Court.

(2.) Firm Shriram Surajbhan (hereinafter called the creditor) made an application to the Insolvency court for adjudicating Gaya Prasad and Bansidhar (hereinafter called the debtors) as insolvents inter alia on the ground that the debtors had fraudulently transferred a house and a shop to Hiralal, Totaram and Dwarka Prasad proprietors of firm Ramchand Hiralal (hereinafer called the transferees) without consideration by executing a mortgage deed for Rs. 27,500/- and on the same day, fictitiously and without consideration by executing a deed of surrender in respect of a shop of theirs (debtors), wrongly stating that it had been constructed with the money of the transferees who were the "real owners.

(3.) In the insolvency proceedings the debtors appeared and filed a reply. The transferees also put in appearance and led evidence.