PRAFULLA CHANDRA MITRA Vs. STATE

JUDGEMENT

(1.) The insolvent, in this case is one Prafulla Chandra Mitra. An order of adjudication was passed on February 16, 1971 by this Court on his own application. This application is made by the decree-holder M/s. Coal Products Pvt. Ltd. for annulment of the order of adjudication dated February 16. 1971 under Section 21 of the Presidency Towns Insolvency Act. 1909 (Act III of 1909). The relevant portion of Section 21 is as follows:

(2.) The case of the decree-holder. Coal Products Pvt. Ltd., is that the debtor in this case, ought not to have been adjudged Insolvent. The learned counsel for the petitioner Mr. B. K. Bachawat placed before me certain facts which appear from the petition and affidavits of the parties and the records and proceedings of this matter and submitted that I should, in the facts of this case, as admitted or proved in this application and in the insolvency proceedings, annul the order of adjudication.

(3.) The relevant facts relied on by Mr. Bachawat are set out hereunder: