THE HON’BLE Ms. JUSTICE G.ROHINI COMPANY APPLICATION No. 757 of 2010 Date: 31.01.2011 Between: M/s. Monarch Finlease Limited, Hyderabad. …Applicant And Sri Jayaram and 2 others …Respondents THE HON’BLE Ms. JUSTICE G.ROHINI COMPANY APPLICATION No. 757 OF 2010 O R D E R : This application is filed by the Official Liquidator representing M/s. Monarch Finlease Limited, the company in liquidation seeking recovery of a sum of Rs.36,000/- along with interest @ 36% per annum with effect from 02.08.2001 till the date of realization from the respondents herein jointly and severally. It is pleaded that the 1st respondent is a hire purchaser of Car bearing No.KA-01-7622 of the company in liquidation and the respondents 2 and 3 are the sureties. Alleging that the 1st respondent during the period from 31.03.2000 to 02.08.2001 paid the hire amount of Rs.85,668/- for 12 hire instalments in full plus a further sum of Rs.6,834/- towards part of 13th hire instalment aggregating to Rs.92,502/- leaving a balance of Rs.36,000/-, the present application is filed for recovery of the said remaining unpaid amount. The notice sent to the 1st respondent was returned unserved with an endorsement ‘refused’, which shall be deemed to be a valid service. So far as the 2nd respondent is concerned, the notice has been served. However, both the respondents 1 and 2 did not choose to appear. Though the notice sent to the 3rd respondent was returned unserved, the learned counsel for the Official Liquidator represented that the claim against the 3rd respondent is not pressed and the Application may be dismissed against the 3rd respondent as withdrawn. An affidavit of PW.1 in lieu of Chief-examination has been filed on behalf of the applicant and Exs.A.1 to A.17 documents have been marked. Ex.A.1 is the Hire Purchase proposal form executed by the respondents herein. Ex.A.2 is the H.P. Agreement executed by respondents herein in favour of the company. Ex.A.3 is the Demand Promissory note executed by the respondents in favour of the company. Ex.A4 is the fifty rupees stamp paper containing the signatures of the respondents herein. Ex.A.5 is the credit information form submitted to the company by respondent No.1 herein. Ex.A.6 is the credit information form submitted to the company by respondent No.2 herein. Ex.A.7 is the credit information form submitted to the company by respondent No.3 herein. Ex.A.8 is the valuation report dated 02.07.1999. Ex.A.9 is the salary pay slip of respondent No.2 herein. Ex.A.10 is the salary pay slip of respondent No.3 herein. Ex.A.11 is the certified true copy of page No.43 from Hire Purchase Register maintained by the company. Ex.A.12 is the certified true copy of page No.5-A of revised list of Loans and Advances (Hire Purchase A/c) submitted by the Ex-Director of the company. Ex.A.13 is the office copy of notice dated 15.12.2005 issued to respondents herein. Ex.A.14 is the unserved cover of respondent No.1 herein. Ex.A.15 is unserved cover of respondent No.2 herein. Ex.A.16 is the unserved cover of respondent No.3 herein. Ex.A17 is the authorization letter dated 19.01.2011 issued by the Official Liquidator. Heard the learned counsel for the Official Liquidator. The evidence of P.W.1 together with the documents marked as Exs.A.1 to A.17, clearly established that a sum of Rs.36,000/- is due and payable by the respondents. Therefore, C.A.No.757 of 2010 is allowed with costs with a direction to the respondents 1 and 2 to pay the amount of Rs.36,000/- together with interest at 36% per annum with effect from 02.08.2001. So far as the 3rd respondent is concerned, the company application is dismissed as withdrawn. _____________ G. ROHINI, J Date: 31.01.2011 Ivd