THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.215 of 2011 In Company Petition No.13 of 2002 12th December, 2011 Between :- M/s.Mamatha Chit Fund (P) Ltd., (In Prov.Liqn.), Rep.by the Official Liquidator, High Court of Andhra Pradesh, Hyderabad .. Applicant And Smt.Aruna Chandra Mouli .. Respondent THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.215 of 2011 In Company Petition No.13 of 2002 ORDER:- This application has been taken out under Section 446 (2)(b) of the Companies Act, 1956 read with Rules 9 and 11 (b) of the Companies (Court) Rules, 1959 seeking a decree against the respondent for a sum of Rs.12,000/- along with interest at 12% per annum w.e.f., 29-5-2000 till the date of realization. This Court, by an order dated 20-3-2002 made in C.P.No.13 of 2002, appointed the Official Liquidator attached this Court as Provisional Liquidator to M/s.Mamatha Chit Fund (P) Ltd. On verification of records of the Company (In Prov.Liqn.) it is revealed that the respondent became the prized subscriber to ticket No.34 of Chit Group No.LP-11F in the auction held on 19-9-1999. The respondent received the prized amount of Rs.74,800/- vide cheque No.028563 dated 21-9-1999. The respondent paid chit subscription amount of Rs.88,000/- for 44 months, for the period from 23-4-1997 to 29-5-2000, leaving a balance of Rs.12,000/-. The Official Liquidator issued a notice dated 8-5-2003 to the respondent to pay an amount of Rs.12,000/- shown as due in the Revised List of Debtors forming part of Statement of Affairs. Though the respondent received the notice, she did not choose to respond. Hence, this application against the respondent seeking the relief stated supra. The respondent entered into appearance through a Counsel and filed a counter resisting the claim of the applicant. It is stated in the counter that the respondent has not received any prize amount directly and that the prized amount has been invested by the respondent in the sister concern of the applicant Company (in Liqn) viz., Saritha Financiers. On behalf of the applicant one witness was examined as P.W.1 and marked 16 documents as Exs.A.1 to A.16. The respondent got herself examined as R.W.1 and marked Exs.B.1 to B.3. Subsequently, the respondent paid Rs.12,000/- and sought for waiver of interest reserving liberty to her to proceed against Saritha Financiers. It is a matter of record that the respondent became the prized subscriber and received an amount of Rs.74,800/-. She paid an amount of Rs.88,000/-. If the respondent has to get any amount from Saritha Financiers, she is at liberty to proceed with the said Saritha Financiers. Since the respondent paid principal amount of Rs.12,000/- , I am of the view that the interest accrued on the said amount can be waived treating the amount of Rs.12,000/- as full satisfaction of the claim. Accordingly, this application is dismissed as redundant. _________________________ B.Seshasayana Reddy, J 12th December, 2011 smr