DHARAMVEER AGARWAL Vs. KAILASH CHAND

JUDGEMENT

(1.) This appeal under S.75 of the Provincial Insolvency Act, 1920 hereinafter referred to as the Act' arises out of the order dated 17th of March, 1977 passed by the District Judge, Alwar whereby objections filed by the present appellant were rejected.

(2.) A few facts may be relevant for the disposal of this appeal. An Insolvency petition, by the creditors respondents No. 1 to 8 in the appeal was presented on 21-3-72 and was ordered to be registered on 25-3-72 and the court further ordered issuance of notice to the non-petitioner debtors. An interim Receiver was appointed by the Insolvency Court on 11-4-72. The appellant Shri Dharamveer Agarwal had filed a suit for recovery of money in Feb. 1972 and that suit was decreed by the Civil Judge, Alwar. The decree was put into execution. Some immovable property was put to auction and sale proceeds were realised. That sale was confirmed on 4-3-74. Thereafter the Executing Court passed an order for rateable distribution on 17-4-74. The creditors who have submitted the insolvency petition made an application before the Insolvency Court on 11-3-74 praying therein that the Executing Court be restrained from distributing the sale proceeds amongst the creditors. Thereupon the insolvency court passed a restraint order. It may also be stated that the applications on behalf of the judgment-debtor and by interim receiver were filed before the executing court but those applications filed on 9-10-73 were rejected by the Executing Court on 2-11-73 and thereafter the Executing Court passed order for rateable distribution. After the restraint order passed by the Insolvency Court, Shri Dharamveer Agarwal submitted some objections before the Insolvency Court which were heard and disposed of by the impugned order of the District Judge, Alwar.

(3.) Mr. Dharamveer Agarwal who is an advocate argued this appeal in person. I have heard him and Shri H.C. Rastogi for the respondent debtors. One of the creditors Sri Govind Ram had submitted an application for impleading him as a party. Thereupon he was impleaded as a party, who is represented by Shri P.C. Jain advocate who has supported the contentions advanced by Shri Dharamveer Agarwal.