THE HON’BLE SRI JUSTICE NOOTY RAMAMOHANA RAO COMPANY APPLICATION No. 1043 of 2009 IN COMPANY APPLICATION No.36 of 2008 IN COMPANY PETITION No. 38 of 2005 Date: 23.10.2009 Between: S.P. Arun Kumar ………….. Applicant and M/s Visveswara Finance & Chit Fund (P) Limited, Rep. by its Official Liquidator. & others …….Respondents THE HON’BLE SRI JUSTICE NOOTY RAMAMOHANA RAO COMPANY APPLICATION No. 1043 of 2009 IN COMPANY APPLICATION No.36 of 2008 IN COMPANY PETITION No. 38 of 2005 O R D E R: None appears for the applicant. Heard Sri M. Anil Kumar, learned counsel for the Official Liquidator. This Application has been taken out by one Sri S.P. Arun Kumar, Respondent No.4 in Company Application No. 36 of 2008 seeking directions to the Official Liquidator to recover the entire decretal amount from Respondent Nos. 2, 3 and 4 herein. When once the applicant in this case is a guarantor, he cannot maintain such an Application. The liability to liquidate the amounts due and payable to the company under liquidation is co- extensive along with that of the principal borrower. The guarantors are also equally liable to liquidate the liability. It is for the guarantors to proceed against the principal borrower, but they cannot seek a direction from the Court to confine the directions only to the principal borrower. No such directions can be issued, but however, entertaining Company Application No. 1116 of 2009, an order was passed today, directing the 1st respondent in Company Application No. 36 of 2008 to liquidate the liability on or before 31st January 2010. If the 1st respondent therein liquidates the said liability by 31st January 2010, perhaps, the Official Liquidator will not require or bother the applicant herein to pay any further amount. If the 1st respondent in Company Application No. 36 of 2008 fails to pay up the amount due and payable to the company under liquidation by 31st January 2010, then, it will be open to the Official Liquidator to proceed not only against the principal borrower but also against the guarantors including the applicant herein. With this, the Company Application stands disposed of. No costs. ---------------------------------- (NOOTY RAMAMOHANA RAO, J) 23rd October 2009 ksld