1 rma IN THE HIGH COURT OF JUDICATURE AT BOMBAY O.O.C.J. APPEAL (LODGING) NO. 302 OF 2009 IN INSOLVENCY PETITION NO. 48 OF 2008 Bhikabhai Gulabchand Patel .. Appellant Vs Ramnik Pasu Gala and Another .. Respondents Mr. Tushan Goradia & Nisha Parma for the Appellant Mr. N.C. Parekh i/b M/s. Mansukhlal & Hiralal & Co for Respondents CORAM : B.H. MARLAPALLE & SMT. V.K. TAHILRAMANI, JJ. DATE : 21st January, 2010 P.C.: 1. Heard. 2. Admit. 3. The respondents waive service. 4. During the pendency of this Appeal which impugns the order dated 03.03.2009 passed in Insolvency Petition No. 48 of 2008, the parties have arrived at an amicable compromise on 20.08.2009. Admittedly, as per the said Settlement, the original petitioner and the present respondent Shri. Ramnik Pasu Gala has received an 9.APP302-09 2 amount of Rs. Seventy Six Lacs and therefore, the order of adjudication of insolvency against Shri. Bhikabhai G. Patel – judgment debtor no. 2 does not survive. 5. Hence, the Appeal is allowed and the impugned order dated 03.03.2009 is set aside. 6. The parties are directed to appear in Insolvency Petition No. 48 of 2008 and take further appropriate step, for the disposal of the said petition. [SMT. V.K. TAHILRAMANI, J.] [B.H. MARLAPALLE, J.] 9.APP302-09 3 9.APP302-09