THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.171 of 2011 12th July, 2011 Between :- M/s.Mamatha Chit Fund (P) Limited (In Prov.Liqn) Rep.by the Official Liquidator, High Court of Andhra Pradesh, Hyderabad .. Applicant And G.Mohan and others .. Respondents THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.171 of 2011 ORDER:- This application has been taken out by the Official Liquidator representing M/s.Mamatha Chit Fund (P) Ltd (In Prov.Liqn) under Section 446(2)(b) of the Companies Act, 1956 read with Rules 9 and 11 (b) of the Companies Court Rules, 1959, seeking a decree against the respondents, jointly and severally, for a sum of Rs.6,000 along with interest at 12% w.e.f. 20-7-2000 till the date of realisation. This Court by order dated 20-3-2002 made in Company Petition No.13/2002 appointed the Official Liquidator attached to this Court as Provisional Liquidator of M/s.Mamatha Chit Fund (P) Ltd. The 1st respondent became the member in the chit group No.LP80F conducted by the Company (In Prov.Liqn). The value of the said chit group is Rs.1,00,000/- with a duration of 50 months at rs,2,000/- each per month. The chit group commenced on 29-9-1996 and was to be terminated on 4th Sunday of October, 2000. As per available records of the Company (In Prov.Liqn), respondent No.1 became the prized subscriber of the said chit and received an amount of Rs.49,150/- on 20-7-1997 vide cheque No.849487. Respondents No.2 to 4 stood as sureties to the 1st respondent in respect of the above prized chit. The 1st respondent paid 47 monthly instalments for the period from 7-6- 1997 to 20-7-2000. He committed default in paying 3 monthly instalments. As per the revised list of debtors forming part of statement of affairs filed on 17-1-2003 by the Ex-MD with the office of the Official Liquidator, respondent No.1 is due in a sum of Rs.7,990/- to the Company (In Prov.Liqn). The Official Liquidator issued a notice dated 6-5-2003 calling upon the 1st respondent to pay an amount of Rs.7,990/- shown as due in the revised list of debtors forming part of statement of affairs. The notice sent to the 1st respondent returned unserved with an endorsement ‘not claimed’. Second notice dated 11- 2-2010 also returned unserved with postal endorsement ‘not claimed’ by respondents No1 and 2, and whereas notice sent to respondent No.3 returned unserved with postal endorsement ‘left’ and notice sent to respondent No.4 returned unserved with postal endorsement ‘part left’. Hence, this application seeking the relief stated supra.. Notices to respondents came to be ordered on 4-3-2011. Notice sent to R.2 returned unserved with an endorsement that ‘addressee vacated the house long back’. Notice sent to R.3 also returned unserved. On 5-7-2011, the Official Liquidator sought permission to withdraw the claim against R.2 and R.3. Accordingly, the claim against R.2 and 3 has been dismissed as withdrawn. Notice sent to R.1 returned unserved with an endorsement ‘unclaimed’. Hence, notice to R.1 deemed to have been served. Though notice served on R.4, he did not choose to appear either in person or through a Counsel.. Affidavit of R.Ramakrishna Reddy in lieu of Chief Examination has been filed. 23 documents have been placed on record and they have been marked as Exs.A.1 to A.3. Heard the learned Counsel appearing for the applicant and perused the evidence of P.W.1 and Exs.A.1 to A.23. As per Ex.A.5-Prized Subscriber Bid Payment Final Statement, the 1st respondent received an amount of Rs.49,150/- and signed thereon acknowledging the receipt of the same. As per Ex.A.14 – Certified True Copy of Ledger Folio in T.No.45 of Group No.LP8F, the 1st respondent paid 47 instalments. He committed default in payment of 3 monthly instalments. Despite notice, the 1st respondent, failed to liquidate the liability. The evidence of P.W.1 and Exs.A.1 to A.23 substantiate the claim of the applicant against respondents No.1 and 4. Accordingly, the application is partly allowed with costs granting a Decree in favour of the applicant and against respondents No.1 and 4, jointly and severally, for a sum of Rs.6,000/- with interest @ 12% per annum w.e.f.20-7-2000 till this day and @ 6% per annum from this day till the date of realization. _________________________ B.Seshasayana Reddy, J 12th July, 2011 smr