THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.1586 of 2011 11th November, 2011 Between :- K.K.Marketing Agencies, Rep.by its Managing Director, Kusumanchi Venkata Kameswara Rao And others .. Applicants And M/s.Tamanna Chit Fund Pvt.Ltd (in Liqn) Rep.by the Official Liquidator, High Court of Andhra Pradesh, Hyderabad .. Respondent THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.1586 of 2011 ORDER:- This application has been taken out by the applicants under Section 457 (2) of the Companies Act, 1956 read with Rule 9 of the Companies (Court) Rules, 1959 seeking direction to the respondent to settle their claims. This Court by an order dated 13-7-2011 made in C.P.No.32 of 2000 directed for winding up of M/s.Tammana Chit Fund Private Limited and appointed the Official Liquidator as its Liquidator. The applicants filed their claims before the Official Liquidator along with certain Bank Statements. The Official Liquidator sought for certain clarifications from the applicants with regard to the Bank Statements furnished by them. Without waiting for adjudication of the claims by the Official Liquidator, the applicants approached this Court seeking direction to the Official Liquidator to settle their claims. The Official Liquidator placed on record his report. The objections raised on the claims submitted by the applicants have been stated in the report which read as hereunder:- A. In respect of M/s.Kusumanchi Chemicals (P) Limited as against the claimed amount of Rs.8,54,238/- the claimant had got the Decree for Rs.3,91,500/- along with bonus of Rs.1,33,500/- etc., vide Hon'ble Principal Senior Civil Judge’s order dated 13-12-2002. Whereas the bank statement dated 23-8-1999 to 14-2-2000 shows that an amount of Rs.75,000/- and Rs.52,500/- (totaling Rs.1,27,500/-) only was remitted towards chit subscription. B. In respect of M/s.K.K.Marketing (P) Limited as against the claimed amount of Rs.7,05,418/-, the Statement of Affairs given by the Ex-management is showing an amount of Rs.1,23,770/-. However, the Bank Statements of M/s.Canara Bank and M/s.Global Trust Bank Limited for the period 12-11-1999 to 17-1-2000 show that various amounts were debited. C. In respect of M/s.K.K.Marketing Agencies, two claims were made by the proprietors viz., K.Kamalakar and K.Kameshwar Rao independently. However, as per records only one chit account is existing in the name of said K.K.Marketing Agencies. D. In respect of claim application of Sri K.Kamalakar for an amount of Rs.7,00,000/- irrelevant Bank statement of Oriental Bank of Commerce which pertains to M/s.K.K.Marketing Agencies has been submitted. Heard learned Counsel appearing for the applicants and learned Counsel appearing for the Official Liquidator representing respondent Company (in Liqn). The Official Liquidator has not yet adjudicated the claims of the applicants. Certain clarifications have been sought for from the applicants with regard to the Statements of Accounts furnished by them. Clarifications sought for have been stated by the Official Liquidator in his report dated 25-10-2011. In that view of the matter, the application is disposed of directing the applicants to place on record their explanations to the objections raised by the Official Liquidator and on furnishing the explanations, the Official Liquidator has to adjudicate the claims as expeditiously as possible, preferably within a period of 30 days thereafter. Accordingly, the Company Application is disposed of. ________________________ B.Seshasayana Reddy, J 11th November, 2011 smr