THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.771 of 2010 Date:21st April, 2011 Between: M/s. Sri D.S.M. Chit Fund (P) Ltd. (in liquidation) Rep. by the Official Liquidator, High Court of A.P., Hyderabad. …Applicant and Sri C.Lohit Reddy, Plot No.106, Gayatri Nagar, Moulali, Hyderabad. …Respondent *** THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.771 of 2010 ORDER: This company application has been taken out by the Official Liquidator representing M/s.Sri D.S.M. Chit Fund (P) Ltd. (in liquidation) under Section 446(2) of the Companies Act, 1956 r/w. Rules 9 and 11(b) of the Companies (Court) Rules, 1959, seeking a decree against the respondent for a sum of Rs.3,00,000/- with interest @ 12% p.a. w.e.f. 27.03.2008 till the date of realisation. 2. By order, dated 15.10.2008, passed in Company Petition No.25 of 2008 M/s.Sri D.S.M. Chit Fund (P) Ltd. was directed to be wound-up and the Official Liquidator attached to this Court was appointed as liquidator of the company (in liquidation). The ex-directors of the Company (in liquidation) furnished the statement of affairs to the Official Liquidator. As per the chit ledger record of the company (in liquidation), the respondent became the prized subscriber to T.No.12 of Group No,.ST 2A valued at Rs.5,00,000/- for a period of 25 monthly @ 25,000/- p.m. He committed default in payment of monthly instalments and thereby indebted to a sum of Rs.3,00,000/- to the applicant company (in liquidation). Hence, this Company Application. 3. Notice to the respondent came to be ordered on 05.10.2010. Notice sent to the respondent returned unserved with an endorsement ‘not claimed’. Proof of service has been filed by the applicant. In view of the said endorsement, it is deemed that the service has been effected on the respondent. 4. The applicant filed affidavit of G.Srinivasa Rao in lieu of chief- examination and produced 16 documents, which have been marked as Exs.A1 to A16. As per Ex.A1, the respondent executed a demand promissory note in respect of Chit No.T.No.12 of Group No.ST 2A. As per Ex.A4 certified try copy of the chit ledger folio in Chit No.12, Group No.ST2A of the company (in liquidation), the respondent paid Rs.2,00,000/-. The amount yet to be paid by the respondent is Rs.3,00,000/-. The evidence of PW.1 coupled with the Exs.A1 and A4, proves the claim of the applicant company against the respondent. 5. Accordingly, the Company Application is allowed granting a decree in favour of the applicant and against the respondent for a sum of Rs.3,00,000/- with interest at the rate of 12% p.a. w.e.f. 27.03.2008 till the date of realisation. No order as to costs. _____________________ B.SESHASAYANA REDDY, J Date:21st April, 2011. cs THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.771 of 2010 Date :21st April, 2011