THE HON’BLE Ms. JUSTICE G. ROHINI COMPANY APPLICATION No.1082 OF 2010 IN COMPANY PETITION No.13 of 2002 Dated: 18.02.2011 Between : M/s. Mamatha Chit Fund (P) Limited …… Applicant And Sri B.Venkataiah and others ……. Respondents The Court made the following:- THE HON’BLE Ms. JUSTICE G. ROHINI COMPANY APPLICATION No.1082 OF 2010 IN COMPANY PETITION No.13 of 2002 ORDER : This application is filed by the Official Liquidator attached to this Court representing M/s. Mamatha Chit Fund (Private) Limited, the company in provisional liquidation seeking recovery of a sum of Rs.7,220/- along with interest at the rate of 12% per annum with effect from 20.06.2000 till the date of realisation. It is not in dispute that the 1st respondent is a prized subscriber to T.No.08 of Chit Group No.LP16E of the company in provisional liquidation and the respondents 2 and 3 are the sureties. It is alleged by the Official Receiver that the 1st respondent, who became a successful bidder for a sum of Rs.30,000/- in the auction held on 27.04.1997 and received the entire prize money by executing a joint promissory notice, paid the chit subscription of Rs.43,000/- for 43 months leaving a balance of Rs.7,000/-. Hence, the present application for recovery of the said remaining unpaid amount. In response to the notice issued by this Court, Sri K.B.Vijaya Bhaskar, Advocate accepted notice for the 1st respondent on 29.12.2010 and represented that the 1st respondent was taking steps to pay the principal amount claimed in the application. On 24.01.2011 the Official Liquidator filed a report vide O.L.R.No.5 of 2011, stating that the 1st respondent had paid Rs.7,220/- towards principal and requested for waiver of interest by letter dated 30.12.2010. Having regard to the admitted fact that the 1st respondent had paid the principal amount and the same was accepted by the Official Receiver vide receipt No.7139, dated 30.12.2010 and keeping in view the inability expressed by him in his letter dated 30.12.2010 for waiving the interest stating that he was suffering from Paralysis for the last four years, I deem it appropriate to waive the interest claimed by the Official Liquidator. Accordingly, recording full satisfaction of the claim in respect of T.No.08 of Chit Group No.LP16E, the Company Application is disposed of. No costs. __________ G. ROHINI, J Date: 18.02.2011 Ivd