Insolvency Petition

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  • Tuesday, October 22, 2013
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  • IN THE COURT OF THE C1::PL1
    I.P.No.      of y1

    Between:
    p1 
    p3
    .. Petitioner
    A n d

    d1  
    d3
    .. Respondents

     

    PETITION FILED UNDER SECTION 10 OF PROVINCIAL INSOLVENCY ACT


    1.     PETITIONER:

    p2

    2.     RESPONDANTS:

    d2

    3.     The address for service of all notices on the petitioner is that of his advocates Sri. add7, Advocates, Pl1 and that of the respondents is as stated above.
    4.     Therefore the petitioner sustained heavy losses. To cover the losses the petitioner used to borrow the amounts from the respondents for higher rate of interest. The respondents also taking advantage of the financial difficulties used to charge high rate of interest besides they used to obtain signatures of the petitioner on blank papers, blank papers containing revenue stamps and non judicial stamp papers.
    5.     The petitioner possesses the assets are mentioned in the 'A' to 'F' schedule. The debts to the knowledge of the petitioner which are payable are shown in 'G' schedule.  Except 'A' to 'F' schedule assets, the petitioner do not possess any other movable or immovable properties. The debts are more than the assets and the same is shown in "H" schedule.
    6.     The petitioner has not secreted any assets. The petitioner has also not committed any acts of insolvency. The petitioner has also not alienated any of the assets.
    7.     Since the liabilities are more than the assets, the petitioner files the present petition to adjudicate her as an insolvent.
    8.     The petitioner has not filed any insolvency petition earlier. There is no collusion between the petitioner and any of the respondents in the petition.
    9.     The cause of action for the petition arose when the petitioner has started business with borrowed capital and later in the month of ............... when the respondents are giving pressure for the discharge of the debts and when the debts are more than the assets at . . . . within the jurisdiction of the Hon'ble Court.
    10.  A court fee of Rs.5/- is paid under Schedule2 Article  of Andhra Pradesh Court Fees and Suits Valuation Act.
    11.  The petitioner therefore prays that the Hon'ble Court may be pleased to adjudicate the petitioner as insolvent and appoint official receiver to administer the estate and grant final discharge thereafter and award costs and such other reliefs as the Hon'ble Court deems fit and proper in the circumstances of the case.
    Be pleased to consider,
                
    Petitioner:

    The Contents stated above are read over to me and explained to me in Telugu and I declare that the contents stated above are true to the best of my knowledge, information and belief and sign this petition at Pl1 on d5.

    Petitioner:          
    List of documents filed:
    S.No.
    DATE
    DESCRIPTION OF THE DOCUMENT










    IN THE COURT OF C1::PL1
            I.P.No.      of y1
    Between:
    p1   
    .. Petitioner
    A n d

    d1  
    .. Respondents

    PETITION 'A' SCHEDULE FILED BY THE PETITIONER
    List of Immovable properties possessed by the petitioner:- Nil.
    PETITION 'B' SCHEDULE FILED BY THE PETITIONER

    List movable properties possessed by the petitioner : -

    Wearing Apparel
    Rs.
    Utensils
    Rs.
    Cot
    Rs.
    Movable property
    Rs.
    Total
    Rs.

    Items 1 to 3 are exempted under Sec. 60 of Civil Procedure Code

    PETITION 'C' SCHEDULE FILED BY THE PETITIONER

    Debts Recoverable by the petitioner:- Nil.

    PETITION 'D' SCHEDULE FILED BY THE PETITIONER

    List of Bank accounts possessed by the petitioner and the balance therein

    PETITION 'E' SCHEDULE FILED BY THE PETITIONER

    List of Insurance policies possessed by the petitioner:-

    PETITION 'F' SCHEDULE FILED BY THE PETITIONER.

    List of Negotiable instruments possessed by the petitioner:- Nil.

     Be pleased to consider,
                
    Petitioner:

    The Contents stated above are read over to me and explained to me in Telugu and I declare that the contents stated above are true to the best of my knowledge, information and belief and sign this petition at Pl1 on d5.

    Petitioner:          
              





     IN THE COURT OF C1::PL1
            I.P.No.      of y1
    Between:
    p1   
    .. Petitioner
    A n d

    d1  
    .. Respondents

    PETITION 'G' SCHEDULE FILED BY THE PETITIONER

    List of the debts payable by the petitioner 

    S.No.
    Name of the party
    Nature of debt
    Amount
    1
    d1


    d3




                               Be pleased to consider,
                
    Petitioner:

    The Contents stated above are read over to me and explained to me in Telugu and I declare that the contents stated above are true to the best of my knowledge, information and belief and sign this petition at Pl1 on d5.

    Petitioner:          







    IN THE COURT OF C1::PL1
            I.P.No.      of y1
    Between:
    p1   
    .. Petitioner
    A n d

    d1  
    .. Respondents

    PETITION 'H' SCHEDULE FILED BY THE PETITIONER

    List of liabilities as shown in petition G schedule
    Rs.
    List of assets possessed by the petitioner:
    Rs.

    The liabilities are more than assets of the petitioner
                  

    Be pleased to consider,
                 
    Petitioner:

    The Contents stated above are read over to me and explained to me in Telugu and I declare that the contents stated above are true to the best of my knowledge, information and belief and sign this petition at Pl1 on d5.

    Petitioner:           








    Add6

     IN THE COURT OF THE C1 :: PL1.

    I.P.No.    of y1

    BETWEEN
    p1
                   ..Petitioner
    A n d        
    d1
                  ..Respondents 






    COURT FEE PAID: Rs.5/-



    PETITION FILED UNDER SECTION 10 OF PROVINCIAL INSOLVENCY ACT



                          
    LIST OF PAPERS SUBMITTED:

    1. PETITION
    2.VAKALAT
    3.PROCESS WITH COPIES
    4.DOCUMENTSFILED: AS PER LIST.


                       Advocate.



             




    ADDRESS FOR SERVICE:
    Add7
    ADVOCATE
    OCATES
    PL1.
               
    IN THE COURT OF C1::PL1
            I.P.No.      of y1
    Between:
    p1   
    .. Petitioner
    A n d

    d1  
    .. Respondents


    I/We P2 do hereby appoint and retain

    Add7
    Add8
    ADVOCATES               

    PL1.



    to appear for me/us in the above original suit/Miscellaneous petition and to conduct and to prosecute or defend the same all proceedings that may be taken in respect of any applications for execution of any decree or order passed therein. I empower my advocate to appear in all miscellaneous petitions in the above suit or matter till the decrees or orders are fully satisfied or adjusted and to obtain the return of documents and draw any moneys that might be payable to me in the suit or matter and I do further empower my advocate to accept on my behalf, service of notices of all any appeals or petitions filed in any Court of appeal, reference or revision with regard to the said suit or matter before the disposal of the Same in this Hon’ble court.




    Petitioner:







    The contents stated above are explained in Telugu to the deponent having perfectly understood the same and admitted the contents are true, solemnly affirmed and signed/ affixed thumb mark in my presence at Pl1 on D5. 


                                                             Advocate



































    Add6          
    IN THE COURT OF C1 :: PL1

    I.P. No.    of y1


    Between:
    p1
                  .. Petitioner
    A n d
    d1
                 
    .. Respondent
     








    VAKALAT FILED ON BEHALF OF THE PETITIONER













     

     

     






    ADDRESS FOR SERVICE:

    Add7
    Add8
    ADVOCATES
    PL1.






     IN THE COURT OF C1 :: PL1
    O.S.No.      of y1
    Between:
    p1  p3
    ...  Petitioner
    A n d

    d1 d3
    ... Respondent

    PROCESS MEMO FILED ON BEHALF OF THE PETITIONER


    Sl.No.       Name and Address of the party
    On what Account
    Process
    Remarks
    1. d2
    R.P. covers enclosed

    R.P.



    Total




    Pl1
    Dated d5

    Advocate for the petitioner




    IN THE COURT OF C1::PL1
            I.P.No.      of y1
    Between:
    p1   
    .. Petitioner
    A n d

    d1  
    .. Respondents

    To
    d2

    Whereas the petitioner herein filed an petition to adjudicate him as an insolvent and you have been shown as one of the Respondent /creditor. You are hereby summoned to appear in this Court on        day of      y1 at 10.30 A.M. to answer the above petition and you are directed to produce all evidences and produce all documents on that day all documents upon which you intend to rely in support of the defence.
        
    Take notice that in default of your appearance on the day afore mentioned the suit will be heard and determined in your absence.

    Given under my hand and the seal of the Court.
    This    day of       y1

    Add7
    Advocate                                                                  Central Nazir.   










    IN THE COURT OF C1 :: PL1
    O.S.No.     of y1
    Between:
    p1 p3
    .. Petitioner
    A n d

    d1 d3
    .. Respondent

    PARTICULARS FILED BY THE PETITIONER UNDER ORDER 6 RULE 14A AND SECTION 26 OF CODE OF CIVIL PROCEDURE 1908.

    1. PETITIONER:

    p2
    2. RESPONDENT:  

    d2

    3. The address for service of all notices on the petitioner is that of his advocates Sri Add7, Add8, Advocates, Pl1 and that of the respondent is as stated above.
    Be pleased to consider,



    Advocate for the Petitioner

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