L.N. Gala vs. Devji And Co.

IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN ITS INSOLVENCY JURISDICTION

OFFICIAL ASSIGNEE'S REPORT NO.122 OF 2006 IN PETITION NO.63 OF 1969

Re: Devji & Ors. ..Insolvents. Ex-parte : Liladhar N. Gala .. Petitioning Creditor. ...

Mr. Y.C. Parikh, Official Assignee present.

CORAM: DR. D.Y. CHANDRACHUD, J. 19th December, 2006.

P.C. :

The Official Assignee has sought permission to declare pro-rata preferential dividend on proved preferential liability. An order of adjudication was passed on 1 st July, 1969. No further recovery is possible. The balance lying in the account is of Rs.21,825.57 as against unsecured liability of Rs.11,094.44 and preferential liability of Rs.11,094.44. The Official Assignee proposes to declare pro-rata preferential dividend on proved preferential liability of Rs.11,094.44. The report is made absolute in terms of prayer clause (a).