THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.762 of 2009 in Company Petition No.13 of 2002 Date :15th March, 2010 Between: M/s.Mamatha Chit Fund (P) Limited (in provisional liquidation), rep. by the Official Liquidator, High Court of A.P., Hyderabad. …Applicant a n d Sri P.Kotesh, H.No.2-2-186/9/1/B, Amberpet, Reddy Nagar, Hyderabad. …Respondent *** THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.762 of 2009 in Company Petition No.13 of 2002 ORDER: This is an application filed by the Official Liquidator representing M/s.Mamatha Chit Fund (P) Limited (in provisional liquidation) claiming Rs.12,000/- with interest @ 12% per annum from 04.06.2000 till date of realization from respondent together with costs. 2. The Official Liquidator attached to this Court came to be appointed as the liquidator of M/s.Mamatha Chit Fund (P) Limited (in Provisional liquidation), by an order dated 20.03.2002 made in Company Petition No.13 of 2002. The Official Liquidator verified the records of the Company (in provisional liquidation) and found that the respondent was the prized subscriber to Ticket No.02 of Chit Group No.ST 12F valued at Rs.1,00,000/- for a period of 25 months @ Rs.4,000/- each (which is inclusive of dividend) per month and that the chit group commenced in the month of August, 1998. As per the books of the company (in provisional liquidation), an amount of Rs.75,000/- paid to the respondent against the bid amount of Rs.77,000/- by way of cheques bearing Nos.010729 and 010730, dated 10.11.1999 for Rs.25,000/- and Rs.50,000/- respectively, after deducting a sum of Rs.2,000/- towards arrears of subscription due in respect of the said prized ticket. The respondent acknowledged the same by affixing his signature on the prized subscriber bid payment final statement. As per the chit ledger record of the company (in provisional liquidation), the respondent paid the chit subscription amount of Rs.88,000/- for 22 months for the period from 28.07.1998 to 04.06.2000, which includes an amount of Rs.13,570.40ps. towards dividend credited by the company (in provisional liquidation), leaving a balance liability of Rs.12,000/-. remaining unpaid w.e.f. 04.06.2000, for three instalments. The respondent executed a promissory note in favour of the applicant company (in provisional liquidation). The Official Liquidator issued a notice on 20.02.2003 demanding the respondent to pay the amount shown as due in the revised list of debtors forming part of statement of affairs. The respondent neither gave any reply nor paid the amount due. Hence, this company application. 3. Notice to the respondent came to be ordered on 04.08.2009. Despite service of notice, the respondent did not choose to enter appearance either in person or through a counsel. Hence, the respondent came to be set ex parte on 20.08.2009. 4. The Official Liquidator filed affidavit in lieu of chief-examination of PW.1 together with documents, 11 in number, which have been marked as Exs.A-1 to A-11. 5. Heard learned counsel appearing for the Official liquidator representing the applicant company (in provisional liquidation) and perused the evidence of Pw-1 and the documents which have been marked as Exs.A-1 to A-11. 6. The respondent became member of the chit organized by the applicant-Company (in provisional liquidation). He withdrew the chit amount and paid certain instalments and thereafter, he committed default in payment of remaining installments. The last payment made by the respondent was on 04.06.2000. Subsequently, no payments were made by him. The evidence of PW.1 and the documents placed on record amply prove the claim of the applicant Company (in provisional liquidation). 7. Accordingly, the Company Application is allowed and there shall be a decree against the respondent to the extent of Rs.12,000/- with interest at 12% per annum from 04.06.2000 till the date of decree and thereafter at 6% per annum till the date of realization with costs. _____________________ B.SESHASAYANA REDDY, J Date:15th March, 2010. cs THE HON’BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.762 of 2009 In Company Petition No.13 of 2002 Dated:15th March, 2010