PREONATH ROY Vs. NIBARAN CHANDRA SARKAR

JUDGEMENT

(1.) In our opinion, the order of dismissal of the insolvent s petition for adjudication must be reversed. The power to dismiss is under Section 15 of the Provincial Insolvency Act, and the Judge in his judgment does not indicate any of the grounds there set forth as that on which he purports to act, nor is it made to appeal? before us that there was any ground on which we can properly uphold the judgment. In fact, if, as the creditor maintains, there are considerable assets, it would be most disadvantageous to the general body of creditors that there should not be an adjudication. The adjudication ensures the distribution of the assets, if there are any, according to the equitable arrangement for which provision is made in the Act.

(2.) We must, therefore, allow this appeal and make an order of adjudication.

(3.) The respondent must pay the costs of this appeal, hearing fee one gold mohur.