NAVIN JHUNJHUNWALA Vs. VIJAY KUMAR SHARMA

JUDGEMENT

(1.) This is to consider an application being G. A. No. 2284 of 2004 arising out of insolvency Case No. 7 of 2003 filed by the debtor-insolvent Navin Jhunjhunwala.

(2.) It is stated in the petition that the amount of dues was to the extent of Rs. 62,017/- payable by the petitioner/debtor to the creditor as on 31.03.2003 which was confirmed by the petitioner/debtor. The dues was confirmed by the petitioner on a number of occasions. In such circumstances, the Court by its order dated 10.9.2003 allowed the insolvency case declaring the petitioner insolvent. It is claimed that in terms of the provisions of Section 18 of the Presidency Towns Insolvency Act, 1909, the Court may at any time after making of an order of adjudication stay any suit or other proceedings against the insolvent before any Judge or Judges of the Court or any other Court subject to the superintendency of the Court. It is also mentioned that the Official Assignee in pursuance of the order of adjudication has taken all necessary steps so as to complete the necessary proceedings. It is further mentioned that a suit being C.S. No. 17 of 1995 between the Viswakarma Cement Ltd, v. Navin Jhunjhunwala is still pending before this Court (in other Bench) and it is prayed that the proceeding of that suit be stayed until the insolvency proceeding against the petitioner be finally disposed of. It is also mentioned in the application that in terms of the provisions of Section 25 of the Act the petitioner-debtor is entitled to protection against arrest or detention.

(3.) It is stated in the report of the Official Assignee that on the petition of the creditor Vijay Kumar Sharma the Insolvency Case was allowed on 10th September, 2003 and debtor was declared insolvent. On 8th April, 2004 the adjudication order was published in the Calcutta Gazette. The petitioner-debtor thereafter filed his schedule of affairs to this Court on 20th April, 2004 in terms of Rules, 103 of the Calcutta Insolvency Rules, 1910. It is also stated in the said report of the Assignee that he found in Exhibit 'H' of the said schedule of affairs that the properties of the insolvent was shown as "NIL".