THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.576 of 2010 15th April, 2011 Between :- M/s.Monarch Finlease Limited (In Liqn) Rep. By the Official Liquidator, High Court of Andhra Pradesh, Hyderabad. ..Applicant And Kare Giri Gowda and another .. Respondents THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.576 of 2010 ORDER:- This application has been taken out by the Official Liquidator representing M/s.Monarch Finlease Limited (In Liqn) seeking a Decree against respondents for a sum of Rs.11,800/- along with interest at 36% per annum w.e.f., 2-8-2001 till the date of realization. By an order dated 12-2-2002 made in C.P.No.173 of 2001, this Court appointed the Official Liquidator as Provisional Liquidator of M/s.Monarch Finlease Limited. Subsequently, M/s.Monarch Finlease Limited was directed to be wound-up by an order dated 1-11-2006 and Official Liquidator was appointed as its liquidator. The Official Liquidator after taking charge of the affairs of the company and on perusal of the statements of affairs, came to know that the 1st respondent borrowed Rs.12,000/- and that the 2nd respondent stood as a guarantor for the loan availed by the 1st respondent. The 1st respondent agreed to pay the amount together with hire charges in 12 monthly instalments @ Rs.1,180/- per month aggregating to Rs.14,160/-. They also executed a Hire Purchase Agreement and a Demand Promisotyr Note in favour of the Company (in Liqn). The Official Liquidator issued notices to the respondents calling upon them to pay the amount due to the Company (in Liqn). The notices sent to the respondents returned with an endorsement “not claimed”. Hence, this application by the Official Liquidator under Section 446 (2)(b) of the Companies Act, 1956 and Rules 9 and 11 (b) of the Companies (Court) Rules, 1959, seeking a Decree against the respondents for Rs.11,800/- with interest thereon. Perused the Chief Affidavit of P.W.1 – P.Rama Krishna Reddy and Exs.A.1 to A.20. Ex.A.1 is the Hire Purchase proposal form executed by the respondents, Ex.A.4 is the Hire Purchase Agreement, Ex.A.5 is the Demand Promissory Note executed by the respondents and Ex.A.9 is the certified true copy of page No.71 from Hire Purchase Register maintained by the Company (in Liqn). The evidence of P.W.1 and Ex.A.1 to Ex.A.20 amply proved that the respondents have to pay Rs.11,800/- with interest thereon. In that view of the matter, the application is allowed granting a Decree against respondents No.1 and 2, jointly and severally, for Rs.11,800/- (Rs.Eleven thousand and eight hundred only) with interest @ 12% per annum from the date of petition till the date of realization. _________________________ B.Seshasayana Reddy, J 15th April, 2011 smr