THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY C.A.NO.232 OF 2011 in C.P.No.13 of 2002 ORDER This application has been filed by the Official Liquidator representing M/s.Mamatha Chit Fund Private Limited in provisional liquidation under Section 446 (2) (b) of the Companies Act, 1956 read with Rule 9 and 11 (b) of the Companies Court Rules, 1959 seeking a decree against the respondents jointly and severally for a sum of Rs.7,984/- along with interest @ 12% p.a. with effect from 12-07-2000 till the date of realization. By an order dated 20-3-2002 made in C.P.No.13 of 2002 the Official Liquidator attached to this Court came to be appointed as Provisional Liquidator of M/s.Mamatha Chit Fund Private Limited. As per the chit ledger record of the company in provisional liquidation, the first respondent became the prized subscriber to T.No.17 of chit group No.LP18E valued at Rs.50,000/- for a period of 50 months @ Rs.1000/- each (which is inclusive of dividend) per month and the said chit group commenced on 31-01-1997 and was to be terminated on 3rd February, 2001. The company paid a sum of Rs.27,900/- against a bid amount of Rs.30,000/- vide cheque No.849098 dated 31-05-1997 after deducting a sum of Rs.2,100/- i.e., Rs.1,950/- towards arrears of subscription dues vide chit group Nos.LP18E-18, LP 18E-19 and LP 18E 10 and Rs.150/- towards verification fees in respect of prized ticket. The respondents executed a joint promissory note and respondent Nos.2 to 4 executed an agreement of guarantee in favour of the company in respect of the aforesaid chit. As per the chit ledger record of the company, the first respondent paid the chit subscription amount of Rs.42,000/- for 42 months for the period from 27-01-1997 to 12-07-2000 which includes an amount of Rs.10,200/- towards dividend credited by the company in provisional liquidation. As per the revised list of debtors forming part of statement of affairs filed on 17-01-2003 by the Ex-Managing Director with the office of the Official Liquidator, the first respondent is due in a sum of Rs.9,414/- to the company in provisional liquidation in the said prized ticket. The Official Liquidator issued a notice dated 10.03.2003 calling upon the first respondent to pay an amount of Rs.9,414/-. The reminder notice dated 9-2-2010 came to be issued to respondents 1 to 4 by the Official Liquidator calling upon them to pay the amount of Rs.7,984/- shown as due in the ledger record of the company. Notice sent to respondent Nos.1 to 3 returned with an endorsement “addressee not claimed”. Hence, this application seeking the prayer stated supra. Notice to respondents came to be ordered on 23-3-2011. Notice sent to respondents 1 to 3 served and whereas notice sent to R4 returned unserved. Learned counsel appearing on behalf of the Official Liquidator seeks permission to withdraw the claim against respondent No.4. Despite service of notice on respondents 1 to 3, they neither appeared in person nor through a counsel. PW1 is examined and Exs.A1 to A20 are marked on behalf of the applicant. Heard the learned counsel appearing on behalf of the Official Liquidator and perused the evidence of PW1 and Exs.A1 to A20. As per agreement of chit, the first respondent joined as a member in the chit bearing ticket No.17 of chit group No.LP18E for Rs.50,000/-. Respondent Nos.2 to 4 stood as guarantors for the chit. The first respondent became the prized subscriber and received an amount of Rs.27,900/-. As per Ex.A9-extract of the chit register, the first respondent paid only 42 instalments and subsequently, committed default. Despite notice being served on respondent Nos.1 to 3, they did not choose to contest the claim. Evidence of PW1 and Exs.A1 to A20 substantiate the claim of the applicant against respondents 1 to 3. Accordingly, the application is allowed with costs granting decree in favour of the applicant and against respondent Nos.1 to 3 for a sum of Rs.7,984/- along with interest @ 12% p.a. with effect from 12-07-2000 to this day and @ 6% p.a. from this day to the date of realization. The claim against respondent No.4 is dismissed as withdrawn. ___________________________ B.SESHASAYANA REDDY,J rkk Dated: 14-6-2011