IN THE COURT OF THE HON’BLE PRINCIPAL SUBORDINATE
JUDGE OF COIMBATORE
I.P.NO. OF 2024
V.J.Leo Arokiaraj … Petitioner
-Vs-
1. Poonawalla Housing Finance
2. ASHV Finance Limited
3. Aditya Birla Finanace Limited
4. TATA Capital
5. HDFC Finance limited
6. RBL Limited
7. Chetak Agencies
8. Radium Textile Industries
9. Shree Enterprises
10. Blue wear apparels … Respondents
PETITION UNDER SECTIONS 10 AND 11 OF THE PROVINCIAL
INSOLVENCY ACT
I. ADDRESS OF THE PETITIONER/DEBTOR:
V.J.Leo Arokiaraj, S/o. Jayaraj, Chritian, aged about 45
years, residing at 18/109, Big Bazaar street, near Carnatic
Theater, Hotel Chanma International, Coimbatore- 641 001.
Address for Service on the petitioner is the same as above
and care of her counsel Ms.M.Maheshwari B.A.,L.L.B.,
Mr.P.Manikandan BA.,LLB., Mrs.M.Savitha B.Sc.,LLB.,
Advocate No1/1 -9 Anna Nagar, Neelambur, Coimbatore –
641062.
II. ADDRESS OF THE RESPONDENT/CREDITORS:
1. Poonawalla Housing Finance, Represented by Branch
Manager, 6th floor, Classic Towers, Trichy road, Coimbatore-641
018.
2. ASHV Finance Limited, Erstwhile Jain Sons Finlease Limited,
Represented by Branch Manager, 2nd Floor, Ahuja Towers,
Thiruvenkatasamy Road, RS Puram, Coimbatore – 641 002.
3. Aditya Birla Finanace Limited, Represented by Branch
Manager, No. 739, 2nd floor Avinashi road, Coimbatore - 18.
4. TATA Capital finance Limited, Represented by Branch
Manager, No. 218, 2nd floor, Suprajaa Towers, Cowley Brown
road, RS Puram, Coimbatore – 641 002.
5. HDFC finance Limited, Represented by Branch Manager,
Classic Towers, Trichy road, Coimbatore-641 018.
6. RBL, Represented by Branch Manager, 1023, RG Chamber
Avinashi road, Coimbatore – 641 018.
7. Chetak Agencies, No. 463, Mint street, Sowcarpet, Chennai.
8. Radium Textile Industries, 65, Vithalwadi, shri Krishna Cloth
market, No. 103, 104, 1st floor, Kalbadevi, Mumbai- 400 002.
9. Shree Enterprises, 65, Vithalwadi, 2nd floor, 207, Krishna
Cloth market, Kalbadevi, Mumbai- 400 002.
10. Blue wear apparels, 605, 4th cross Raghunath pura,
Kamakshipalya, Bangalore – 560079.
Address of the respondents/creditors for service of all
processes is as above.
3. The petitioner was originally running textile business where
he sells dress materials and stitched garments at Coimbatore in
the above mentioned address. For the improvement of his
business, the petitioner borrowed loans from 1 to 10 respondents
under the bonafide intention and good faith from the above
mentioned respondents / creditors and he paid some amount to
some creditors .But the amount due to the above respondents by
way of loans remain unpaid . It is submitted that the petitioner
has sustained sudden and immediate heavy loss in the above
business and unable to satisfy his creditors, particularly the
above respondents. Moreover the above respondents/creditors
have obtained the signature of the petitioner in number of blanks
cheques and blank pro note and unfilled documents.
4. All the details of the borrowing and their liabilities are
described in “A “Schedule hereunder.
5. The petitioner submits that his business started to get dull
from March 2020. The petitioner submits due to the COVID -19
taking advantage of the dullness in the business, the petitioner
was unable to pay the liability amounts. As such the petitioner
incurred heavy loss in the September 2020. In the above said
circumstances, the petitioner was unable to run his business and
closed his business but with the fond hope to discharge his
debts, But the collection as very meager and even then he has
discharged his petty debts. From that time onwards, the
petitioner was unable to keep up his words to his creditors and
also unable to pay the amounts dues to the respondents herein
and others.
6. The petitioner has no source of income to discharge his
debts and that he is in need of help for his livelihood after the
said closure of business. he has no properties and as already
stated above, the petitioner has rendered helpless and he is
actually doing some work based on daily wages and thereby he is
getting margin income. The Petitioner submits that there are no
immovable properties to him.
7. While so the respondents herein, demanded the petitioner
for their amounts. The petitioner represented to them that he is
unable to repay the amounts due to them, due to the heavy loss
incurred in his business. Therefore the respondents have taken
coercive steps and police action for collection of their amounts,
even though the petitioner has no property and no source of
income to discharge their debts. Moreover the respondents are
threatening the petitioner that they are going to fill the blank
cheques and blank pro-note of their own whims and fancies with
their imaginary amount and threatening that they are going to
initiate false proceedings against him. Under these circumstances
also, the petitioner intended to adjust and satisfy the
respondents/creditors by collecting the amounts dues to him.
Unfortunately the petitioner is unable to discharge the debts. In
the above said circumstances, the petitioner is unable to pay the
sum of Rs. 89,67,200/- dues to the respondents herein and the
same is described hereunder in the schedule “A” For the kind
perusal of this Hon’ble court .The petitioner submit that he has
no assets of his own and that also described separately in the
schedule.
8. The petitioner is in helpless position to pay off his dues to
the respondents and he is also unable even to meet out his
livelihood. The present position is that the respondents are
pressing to pay the amounts mentioned hereunder in the
schedule and all requests made by the petitioner to his creditors
are in futile. The petitioner apprehends that he may be
humiliated by the respondents with the help of the police and
Hench men. In view of the above said circumstances, the
petitioner is advised to approach this Honorable Court to adjudge
his as insolvent. The petitioner does not own any moveable or
immoveable properties of his own. The petitioner also submits
that due to the fluctuation in the business, the petitioner is
unable to discharge the debts due to the respondents/creditors.
9. The petitioner has not filed any Insolvency application in
any other forum in India, to adjudge his as insolvent as against
these respondents. The petitioner also submits that he has not
alienated or encumbered, or even entered into any agreement in
respect of any of his properties, within three months, prior to the
filing of this petition.
10. In spite of the best bonafide efforts made by the petitioner,
he is not able to pay his debts. The respondents are attempting to
take legal action and get his arrest in execution.
11. Therefore the petitioner has no other go, except to file this
application to adjudge his as insolvent and for other reliefs.
12. A fixed court fee of Rs. is affixed under Schedule II Article 1
(11) (l) of the Tamil Nadu Court Fees and Valuation Amended Act
17 of 2003.
Therefore the petitioner humbly prays that this Honorable
Court may kindly be pleased to adjudge the petitioner/debtor
herein as insolvent, pass such other suitable orders as deem fit
and thus render justice.
COUNSEL FOR PETITIONER PETITIONER
SCHEDULE – A
SCHEDULE A PARTICULARS OF LIABILITY
Sl.N Name of Loan Loan Loan to Be
o Respondent Borrowed Paid Paid
1. Poonawalla 7,71,000 3,07,380 7,99,188
Housing Finance
2. ASHV Finance 9,50,470 3,57,831 10,73,529
Limited
3. Aditya Birla 9,57,550 3,76,760 9,79,576
Finanace Limited
4. TATA Capital 9,53,988 3,39,075 10,17,225
5. HDFC Loan 3,46,572 4,79,644 54,605
No:GECL 8171702
6. HDFC Card No: 1,51,816
5535 8305 0642
4913
5. HDFC 15,12,957 14,02,466 5,39,410
CardNo:12502085
5
6. RBL Card No: Card 97,892
No: 5243 7367
4419 6861
7. Chetak Agencies 2,23,916
8. Radium Textile 13,00,000
Industries
9. Shree Enterprises 20,00,000
10. Blue wear apparels 7,30,143
TOTAL AMOUNT 89,67,200/-
PETITIONER
B – SCHEDULE
LIST OF THE ASSETS OF THE PETITIONER (EXEMPTED);
8 Old Shirts .. Rs. 3000-00
6 Old pants .. Rs. 3000-00
Wrist watch .. Rs. 1000-00
Cellphone .. Rs. 2000-00
Total : Rs.9000.00
ABSTRACT
Liabilities (as per A schedule) .. Rs.89,67,200/-
Assets .. Rs. 2,00,000/-
Total : Rs.87,67,200/-
VERIFICATION
I, V.J.Leo Arokiaraj, S/o. Jayaraj, the above named
petitioner do hereby declare that the description given above are
true and correct to the best of my knowledge and belief and sign
this at Coimbatore on
COUNSEL FOR PETITIONER PETITIONER
IN THE COURT OF THE
HON’BLE PRINCIPAL
SUBORDINATE JUDGE OF
COIMBATORE
I.P.NO. OF 2024
V.J.Leo Arokiaraj
… Petitioner
-Vs-
1. Poonawalla Housing
Finance
2. ASHV Finance Limited
3. Aditya Birla Finanace
Limited
4. TATA Capital
5. HDFC
6. RBL
7. Chetak Agencies
8. Radium Textile Industries
9. Shree Enterprises
10. Blue wear apparels
… Respondents
PETITION UNDER SECTIONS 10
AND 11 OF THE PROVINCIAL
INSOLVENCY ACT
Pre.on:
ADDRESS FOR SERVICE
Ms.M.MaheshwariB.A.,LLB.,
Mr.P.Manikandan BA.,LLB.,
Mrs.M.Savitha B.Sc.,LLB.,
Advocates
No1/1 -9 Anna Nagar,
Neelambur,
Coimbatore – 641062.
PH: 7548810360
