THE HON’BLE Ms. JUSTICE G. ROHINI COMPANY APPLICATION No.854 OF 2010 IN COMPANY PETITION No.25 OF 2008 Dated: 21.03.2011 Between : M/s. Sri D.S.M.Chit Fund (P) Ltd …… Applicant And Smt. Rajidi Kalavathi and others …… Respondents The Court made the following :- THE HON’BLE Ms. JUSTICE G. ROHINI COMPANY APPLICATION No.854 OF 2010 IN COMPANY PETITION No.25 OF 2008 O R D E R : This application is filed by the Official Liquidator attached to this Court representing M/s. Sri D.S.M.Chit Fund (P) Limited, the company in liquidation seeking recovery of a sum of Rs.75,000/- from the respondents herein together with interest at the rate of 12% per annum with effect from 02.07.2008. Though there is no appearance on behalf of the respondents, the Official Liquidator filed a report dated 22.11.2010 before this Court stating that the 2nd respondent had deposited a sum of Rs.7,500/- on 15.11.2010 and requested for 10 equal installments to pay the balance and a request was also made by him for waiver of interest. Accordingly, by order dated 30.11.2010 the 2nd respondent was permitted by this Court to make the payment in 10 equal installments. A fresh report has been filed by the Official Liquidator today vide O.L.R.No.50 of 2011 stating that the 2nd respondent has also paid the further monthly installments and as on today a total sum of Rs.37,500/- is due towards the principal amount. In view of the reasons stated in the letter addressed by the 2nd respondent to the Official Liquidator, the interest claimed by the Official Liquidator is hereby waived and the respondents are permitted to remit the balance of Rs.37,500/- in equal monthly installments as per order dated 30.11.2010. It is made clear that incase there is default on the part of the respondents, it is open to the Official Liquidator to approach this Court for appropriate directions. Accordingly, the Company Application is disposed of. No costs. __________ G. ROHINI, J Date: 21.03.2011 Ivd