THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.595 of 2011 12th July, 2011 Between :- M/s.Mamatha Chit Fund (P) Ltd (In Prov.Liqn) Rep. By the Official Liquidator, High Court of Andhra Pradesh, Hyderabad .. Applicant And C.Suprasanna Devi and others .. Respondents THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.595 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.3,955.20 along with interest at 12% w.e.f. 6-6-2000 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. As per the records of the Company (In Prov.Liqn), the 1st respondent joined as a member of the chit valued at Rs.1,00,000/- for a period of 50 months @ Rs.2,000/- each, which is inclusive of dividend, and subsequent he came the prized subscriber of the said chit bearing T.No.43 Group No.LP7F and received an amount of Rs.58,700/- against an amount of Rs.60,000/- vide cheque Nos.413668 and 413665 dated 18-3-1997 for Rs55,000/- and Rs3,700/- respectively after deducting a sum of Rs1,300/- towards arrears of subscription dues vide receipt No21780 dated 18-3-1997. Respondents No.2 to 4 herein stood as sureties for respondent No.1 in respect of the said prized chit. The 1st respondent paid 48 instalments and subsequently committed default in payment of two instalments. As per the Chief Ledger Record of Company (in Prov.Liqn.), respondent No.1 herein paid 48 monthly instalments for the period from 24-7-1996 to 6-6-2000. Notice sent to the 1st respondent by the Official Liquidator calling upon the 1st respondent to pay an amount of Rs.5,450/- shown as due in the revised list of debtors forming part of the statement of affairs, returned unserved with postal endorsement “Addressee left without intimation”. Notices sent to respondents No.2 to 4 returned unserved. Hence, this application by the Official Liquidator. Notices to respondents came to be ordered on 14-6-2011. Notices sent to R.1 and R.4 served. None appears on their behalf. Notices sent to respondents No.2 and 3 returned unserved. The Official Liquidator seeks permission to withdraw the claim against respondents No.2 and 3. Permission as sought for came to be granted on 5-7-2011. Affidavit of R.Ramakrishna Reddy in lieu of Chief Examination has been placed on record. 16 documents are filed and they are marked as Exs.A.1 to A.16. Heard the learned Counsel appearing for the applicant and perused the evidence of P.W.1 and Exs.A.1 to A.16. As per Ex.A.5-Prized Subscriber Bid Payment Final Statement, the 1st respondent received Rs.55,000/- and Rs.3,700/- and signed thereon acknowledging the receipt of the same. As per Ex.A.7 – Certified True Copy of Ledger Folio in T.No.43 of Group No.LP7F, the 1st respondent paid 48 monthly instalments. She failed to liquidate the liability despite notice dated 30-4-2003. The evidence of P.W.1 and Exs.A.1 to A.16 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.3,955.20 P.S., with interest @ 12% per annum w.e.f.6-6-2000 till this day and @ 6% per annum from this day till the date of realization. _________________________ B.Seshasayana Reddy, J 12th July, 2011 smr