Desai v Official Receiver (C.A. 32-1932.)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The Court held that a mere threat of taking criminal proceedings, where to the knowledge of both the debtor and the person making the threat no crime has been committed, does not constitute pressure sufficient to negative the provision in section 46 of the Bankruptcy Ordinance, 1930, that the debtor intended to give a preference. A transfer made under such circumstances, where the other provisions of section 46 have been fulfilled, will be deemed fraudulent. Appeal dismissed.
Outcome
Transfer of chattels and book debts and payment of Sh. 3,000 declared void as fraudulent preference; appellant ordered to return chattels, re-assign book debts, and refund payment to Official Receiver
Facts
On 6 October 1931, Kassamali Rahemtulla Nathoo transferred chattels and book debts to Gulabrai Desai and paid him Sh. 3,000. The debtor filed a bankruptcy petition on 20 November 1931, and a Receiving Order was made the following day. The Official Receiver applied to set aside the transfer and payment as fraudulent preferences under section 46 of the Bankruptcy Ordinance, 1930. Desai claimed the transaction was entered into owing to pressure he brought to bear on the debtor, specifically threats of criminal prosecution. The trial judge found that the debtor knew his financial position was one of insolvency at the time of the transfer and that he was parting with the bulk of his property. The debtor retained possession of the goods after the bill of sale, and a large portion was sold to his brother. At a meeting of creditors in late October, the debtor consented to cancel the transaction if creditors would agree to a composition.
Issues
- Whether a transfer of chattels and book debts and payment made by a debtor to a creditor under threat of criminal prosecution constitutes a fraudulent preference under section 46 of the Bankruptcy Ordinance, 1930.
- Whether threats of criminal prosecution, where no crime has been committed, constitute pressure sufficient to negative the intention to give a preference.
Orders
- Appeal dismissed.
- Costs awarded to the respondent.
Rules and key headnotes
Legislation cited (1)
- Bankruptcy Ordinance, 1930 s.46
Cases cited (4)
- Ellis v Charles Smith (1865) 34 LJ QB 68
- Bullock v Trustee in re Parker (32 TLR 661)
- Manna Lal v Bank of Bengal (1876) 1 ILR Allahabad 309
- Ex parte Deacon [1913] 2 KB 80
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.