1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY IN ITS INSOLVENCY JURISDICTION INSOLVENCY PETITION NO.112 OF 2004 Re:Prasad Purshottam Kanani & Ors.. Debtors. Ex-parte: Apna Sahakari Bank Ltd...Petitioning Creditor. .... Mrs.Pooja P. Gaonkar i/b Mr.P.M.Gaonkar for the Petitioning Creditor. Mr.Baptish D’Souza i/b Mr.B.B.Parekh for Debtor No.3. .... CORAM : DR.D.Y.CHANDRACHUD, J. CORAM : DR.D.Y.CHANDRACHUD, J. CORAM : DR.D.Y.CHANDRACHUD, J. 15th March, 2005. P.C. : The Insolvency Petition is based on a recovery certificate dated 20th April, 2000 issued by the Assistant Registrar, Co-operative Societies under Section 101 of the Maharashtra Co-operative Societies Act, 1960. The recovery certificate was in the amount of Rs.2,56,438/- with interest at the rate of 18% per annum on the principal sum. Debtor 2 No.3 took out a Notice of Motion for setting aside the Insolvency Notice which was dismissed on 20th April, 2004. The First and Second Debtors have been served by substituted service and an affidavit of service has been filed. Debtor No.3 has appeared before the Court. No affidavit has been filed. The Petition is accordingly made absolute in terms of prayer clauses (a) and (b).