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Issues involved: Appeal against money decree, Insolvency proceedings, Official Assignee's role in prosecuting appeal.
Summary: 1. The appeal challenged a money decree passed by a Learned Single Judge in a Summary Suit based on promissory notes for a friendly loan of Rs. 8 lakhs. The appellants failed to repay, leading to the suit. 2. Despite a request for depositing Rs. 10 lakhs, the appellants failed to comply, leading to insolvency proceedings against them. 3. The Official Assignee contended that he cannot prosecute the appeal u/s 17 of the Presidency Towns Insolvency Act, as it does not allow taking over such proceedings without court order. 4. Section 17 of the Act vests the insolvent's property in the Official Assignee, who can realize it for creditors. Rules of the Code of Civil Procedure also apply to insolvency cases. 5. Previous cases establish that appeals related to money claims against insolvents do not fall under the Official Assignee's powers, hence the appeal did not abate. 6. The appellants failed to apply for leave to defend within the specified time, leading to the decree in favor of the respondent. 7. The appellants' claim of being uneducated and the promissory notes being fabricated were dismissed, and the appeal was ultimately dismissed for non-compliance and lack of merit.
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