THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.556 of 2011 Dated : 15-06-2011 Between: M/s Mamatha Chit Fund (P) Limited …..Applicant Company and 1. Sri Atmakuri Thirupathi Ram and others …. Respondents THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.556 of 2011 ORDER: This application has been taken out by the Official Liquidator representing M/s Mamatha Chit Fund (P) Limited (in Prov.Liqn.) under Section 446(2)(b) of the Companies Act, 1956 r/w Rule 9 and 11(b) of the Companies Court Rules, 1959 seeking a decree against the respondents for a sum of Rs.5,885/- along with interest at 12% per annum with effect from 16.07.2000 till the date of realization. Notice to the respondents came to be ordered on 30.04.2011. The 1st respondent is the prized subscriber of the chit valued at Rs.50,000/-. As per the chit ledger, the 1st respondent paid 44 instalments. The prized amount received by him from the company is Rs.25,250/-. The balance due as per the chit ledger is Rs.5,885/-. The 1st respondent stated to be no more. His wife namely A.Indravathi appeared before the Official Liquidator and paid Rs.5,885/- and submitted R.Pt.No.7615 dated 31.05.2011 seeking waiver of interest portion. It is stated by her in her representation that her husband died due to paralysis stroke on 08.05.2011 and she spent considerable amount for the treatment of her husband. It is evident from record that the 1st respondent paid Rs.44,000/- against the prize amount of Rs.25,250/-. First respondent is no more and his wife paid the principal amount of Rs.5,885/-. In view of the representation of A.Indravathi, who is the widow of the 1st respondent, I am of the view that the interest portion can be waived. Accordingly, the amount due from the respondents 1 to 6 is deemed to have been discharged. Debt due to the petitioner/applicant by the respondents 1 to 6 is deemed to have been discharged. Accordingly, the company Application is dismissed as redundant. _____________________ B.SESHASAYANA REDDY, J Dt.15th June, 2011 PNV