SHRINIWAS SHANTILAL Vs. CHAGANLAL MAGANLAL

JUDGEMENT

(1.) THE appellant debtor had filed an Insolvency Petition giving a list of creditors for a total debt of about Ra. 9,400 out of whom the main creditor entered appearance. Even during the preliminary enquiry under section 24, Provincial Insolvency Act, the Court found that the appellant was not entitled to present the petition and accordingly dismissed it. Hence the appeal. On the facts, the Court took note of the debtor -petitioner's statement on oath in another case, about a year before presenting the petition, that -

(2.) HE had in his shop property worth Rs. 16,000 to Rs, 20,000. He had properties in Mandeaur worth Rs. 15,000 or Rs. 20,000. If, as the context indicates, he is speaking of two kinds of properties, one in the shop and one elsewhere in Mandsaur, he had at that time i. e. in February 1954, a total of thirty to forty thousand rupees worth as property; even if both relate to the same, at all events, he stated that he had property not less than He. 15 000 worth. In the application filed in July 1955, the assertion was that his debts totaled to about Rs. 9,400 and his properties worth about Re. 600 movable and Rs. 200 immovable. There is certainly nothing impossible in a person, who is rich today, becoming a beggar tomorrow. The earlier statement on oath could certainly be reconciled with his petition if the petitioner had stated or at least indicated how in the interval things had gone badly for him and the properties he had, in February 1954, had been lost, destroyed or used up before July 1955 But there was absolutely no such indication. The result was that the Court held that prima facie, he had not satisfied it in regard to his inability to pay the debt. Accordingly, it dismissed the application.