SAGARMAL BASTIMAL Vs. BHIKAMCHAND AND PUKHRAJ

JUDGEMENT

(1.) THIS is an appeal against the judgment dismissing the insolvency petition. The learned Additional District Judge, Sirohi held that the respondent committed an act of insolvency inasmuch as he transferred all his immovable properties in favour of his wife and sons on 13th June, 1972 and got a gift deed registered on 15th June, 1972. It was also held that the debt was more than Rs. 500/ - but since it was not a liquidated sum, the insolvency petition could not be entertained.

(2.) AGAINST the above judgment, the applicant -appellant has filed the present appeal.

(3.) THE case of the non -applicants -respondents was that though they were dealing with the applicant but the applicant has failed to furnish the accounts and, therefore, unless the accounts are finalised it is not possible to ascertain the exact amount.