• Insolvency petition related

Dear Sir,

It is a promissory note case.
The court has declared it's verdict against me. But I have no assets. Can I go for insolvency petition? What are the consequences I have to face? Is there any arrest because I am not appealing the decree. Please guide me..
Thankq
Asked 9 months ago in Civil Law from Palacole, Andhra Pradesh
1) on decree being passed in summary suit plaintiff will take out execution proceedings against you 

2) they will seek to attach your bank account , or any property owned by you 

3) if you dont have any property plaintiff can seek   arrest and detention of the judgment-debtor;

4) the Court shall issue a notice to the judgment debtor before issuing a
warrant of his arrest in execution of the decree unless the Court is satisfied, by affidavit or
otherwise, that the judgment-debtor is likely to abscond or leave the limits of the jurisdiction of 
the Court with the object or effect of delaying the execution of the decree.

5) you can declare your self insolvent if   you are unable to pay your debts 
Ajay Sethi
Advocate, Mumbai
29681 Answers
1615 Consultations

5.0 on 5.0

In the money suit civil case if the judgment is agaisnt you then for enforcement of decree the decree holder will file an execution petition against the judgment debtor.
Then it becomes the duty of the petitioner to prove your means to pay the decree amount.
If there is no means then he may file petition for civil arrest  for lodging you to civil jail till you pay the decree amount.
T Kalaiselvan
Advocate, Vellore
19824 Answers
192 Consultations

5.0 on 5.0

1. No you cannot circumvent a decree of recovery of money in this manner by filing an IP. How are you even an insolvent if you contested the suit for recovery? You have misunderstood the concept of insolvency. 

2. You may though contest execution proceedungs.
Ashish Davessar
Advocate, Jaipur
20072 Answers
530 Consultations

5.0 on 5.0

if signature was forged you could have examined hand writing expert to prove signature is forged 

2)you can file appeal against impugned order 

3) thanks for your appreciation 
Ajay Sethi
Advocate, Mumbai
29681 Answers
1615 Consultations

5.0 on 5.0

The judgment debtor will be subjected to the execution petition filed by the decree holder. 

But it is again the burden of the decree holder to prove the means o the judgment debtor to recover the the decree amount from him.

Since the JD is not having any income or means to pay the deree amount, nothing can be extracted from him.

Then the DH should satisfy himself with a mere arrest to civil prison.
T Kalaiselvan
Advocate, Vellore
19824 Answers
192 Consultations

5.0 on 5.0

File the IP, and the judge would use more harsh language, then tell him "Hell Mr.Justice, Why you are giving such judgments". People like you who do not learn to accept discomforting but practicable and true answers on legal issues get doomed in the court like you have been doomed now. Your father being JD will be liable to sent to civil prison in execution proceedings if he cannot     pay the decreetal amount. 
Ashish Davessar
Advocate, Jaipur
20072 Answers
530 Consultations

5.0 on 5.0

Particularly you can't go with IP with decree holder, but you can go proceeds with IP with others if any body going to claim. Nothing will happen if no properties are lying in the name of Judgment Debtor. You can avoid execution of decree. The decree holder can seek attachment of property and if not, in worst case he may apply for civil prison which is not so easy.    The action in civil prison cases are rare and they have to prepare for maintenance expenditure at jail.  
Lakshmi Kanth
Advocate, Hyderabad
332 Answers
2 Consultations

4.8 on 5.0

Ask a Lawyer

Get legal answers from top-rated lawyers in 1 hour. It's quick, easy, and anonymous!
  Ask a Lawyer