THE HON'BLE Ms. JUSTICE G.ROHINI COMPANY APPLICATION No. 851 OF 2010 Dated: 30.11.2010 Between: M/s. Mamatha Chit Fund (P) Limited ..... Applicant And Sri G.Ramesh Babu and others ……Respondents The Court made the following : THE HON’BLE Ms. JUSTICE G. ROHINI COMPANY APPLICATION No.851 OF 2010 IN COMPANY PETITION No.13 OF 2002 ORDER : This application has been filed by Official Liquidator attached to this Court representing M/s. Mamamtha Chit Fund (P) Limited, the company in liquidation, seeking a direction to the respondents herein jointly and severally to pay a sum of Rs.8,000/- along with interest at 12% p.a. w.e.f. 25.04.2000. It is alleged that the 1st respondent herein is a prized subscriber to T.No.07 of Chit Group No.LP7F of the Company in liquidation and that as per records a sum of Rs.8,000/- is due from the 1st respondent with regard to the chit transaction. The respondents 2 to 4 are the guarantors to the said transaction. Alleging that in spite of several notices issued by the office of the Official Liquidator the respondents failed to clear the dues, the present application has been filed. Despite notice, the respondents 1, 3 and 4 did not choose to appear. However the respondent No.2 filed a counter-affidavit stating that he, being a surety, desired to clear the amounts due and accordingly he paid Rs.8,000/- to the Official Liquidator by Demand Draft. It is further stated that as he is a retired employee and is not in position to pay the interest, the same may be waived. I have heard Sri M. Anil Kumar, the learned Counsel appearing for the Official Liquidator as well as Sri B. Goverdhanachary, the learned counsel appearing for the 2nd respondent. The Demand Draft bearing No.651590, dated 10.11.2010 drawn on State Bank of Hyderabad, Saidabad Branch for a sum of Rs.8,000/- in the name of the Official Liquidator has been handed over by the learned counsel for the 2nd respondent to Sri M. Anil Kumar, the learned Counsel for the Official Liquidator in the open Court. Having regard to the fact that the principal sum of Rs.8,000/- has been paid by the 2nd respondent and keeping in view that he is a retired employee depending solely on the pension, I deem it appropriate to waive the interest claimed by the official respondents. Accordingly, the interest claimed in the present application is hereby waived and recording full satisfaction of the claim against the respondents herein, the Application is closed. No costs. ____________ G. ROHINI, J. Dt. 30.11.2010 Ivd