Insolvency Petition No. 6/2020 (D.No. 388/2021)
The Subordinate Court, Gobichettipalayam, through Notification No. VI-3(a)/46/2021 and D.No. 388/2021 dated 30 April 2021, gives public notice of Insolvency Petition No. 6/2020. Seven creditor petitioners seek to have Venkatachalam declared insolvent, and the petition was listed for hearing on 13 July 2021.
What the notification does
The Subordinate Court, Gobichettipalayam, issued Notification No. VI-3(a)/46/2021 and D.No. 388/2021 dated 30 April 2021. It was published in Part VI, Section 3(a) of the Tamil Nadu Government Gazette on 5 May 2021.
The notification records that seven creditors filed Insolvency Petition No. 6/2020 seeking a declaration that the first respondent, Venkatachalam, is insolvent. It states that the petition was pending before the court and had been listed for hearing on 13 July 2021.
People and institutions affected
The proceeding directly concerns:
- Seven petitioners identified as creditors: Murugan, S. Muthusamy, S.P. Balasubramaniam, S. Natarajan, K. Deivasikamani, R. Selvaraj and Cellappan.
- Venkatachalam, described as the respondent and debtor.
- The Tamil Nadu Mercantile Bank, Perumanallur Branch, represented by its branch manager.
- A.P. Saravalingam, S. Muruganantham, K. Murugesan, G. Kuppusamy, A.R. Chinna Nachimuthu and S. Marimuthu, described as alleged creditors and respondents.
- Ramamoorthy, described as a respondent and purchaser.
- K. Chandrasekar, described as a respondent and creditor.
The addresses given for the parties include locations in Erode, Tiruppur and Karur districts.
Relevance to property buyers and owners
A property buyer should note that Ramamoorthy is specifically included in the insolvency proceeding as a purchaser. The notification does not identify any property, survey number, sale deed, transaction value or ownership finding. It also does not state that any sale has been cancelled or that title has been transferred.
The document is therefore notice of a pending insolvency case, not a land title record or a final decision about property rights. Anyone dealing with a person named in the notification would need to recognise that the insolvency petition was pending and that the named purchaser, creditors and alleged creditors were parties to it.
Key points
- The case number is Insolvency Petition No. 6/2020.
- The document number is D.No. 388/2021.
- The Gazette notification number is VI-3(a)/46/2021.
- Seven creditors seek to have Venkatachalam declared insolvent.
- The notified hearing date was 13 July 2021.
- No outcome of the petition is recorded in the notification.
This summary is generated from the source document to help you find what is relevant. The PDF above is authoritative. For advice on your own property, use LandLens One or speak to a qualified professional.
Common questions
Does this notification declare Venkatachalam insolvent?
No. It states that creditors filed a petition seeking such a declaration and that the petition was pending.
Does the notification cancel a property purchase?
No. Ramamoorthy is listed as a respondent and purchaser, but the notification does not identify a property or state that any purchase was cancelled.
When was the insolvency petition listed for hearing?
The notification states that Insolvency Petition No. 6/2020 was listed for hearing on 13 July 2021.
Is this a final court judgment about ownership or debt?
No. The document is public notice of a pending insolvency petition and does not record a final decision.
