THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.592 of 2011 12th July, 2011 Between :- M/s.Mamatha Chit Fund (P) Ltd (In Prov.Liqn) Rep. By the Official Liquidator, High Court of Andhra Pradesh, Hyderabad .. Applicant And M.Aravind Sharma and others .. Respondents THE HON'BLE SRI JUSTICE B.SESHASAYANA REDDY Company Application No.592 of 2011 ORDER:- This application has been taken out by the Official Liquidator representing M/s.Mamatha Chit Fund (P) Ltd (In Prov.Liqn) under Section 446(2)(b) of the Companies Act, 1956 read with Rules 9 and 11 (b) of the Companies Court Rules, 1959, seeking a decree against the respondents, jointly and severally, for a sum of Rs.6,000/- along with interest at 12% w.e.f. 23-5-2000 till the date of realisation. This Court by order dated 20-3-2002 made in Company Petition No.13/2002 appointed the Official Liquidator attached to this Court as Provisional Liquidator of M/s.Mamatha Chit Fund (P) Ltd. The 1st respondent became the prized subscriber to T.No.24 of Chit Group No.ST20D and received an amount of Rs.19,617.20 P.S., against the bid amount of Rs.21,400/- vide cheque No.791796 dated 5-6-2000. As per the revised list of debtors forming part of Statement of Affairs filed on 17-1-2003 by the Ex-MD in the Office of the Official Liquidator, respondent No.1 herein is due a sum of Rs.7,915/- to the Company (in Prov.Liqn.), in respect of the said prized ticket No.24 of Chit Group No.ST20D w.e.f. 23-5-2000. Respondents No.2 and 3 stood as sureties to 1st respondent in respect of the prized chit. The Official Liquidator issued a notice dated 13-2003 to the 1st respondent calling upon him to pay an amount of Rs.7,915/- shown as due in the revised list of debtors forming part of statement of affairs. Despite service of notice, the 1st respondent failed to liquidate the liability. The reminder notice also did not yield any fruitful result. Hence, this application. Notices to respondents came to be ordered on 14-6-2011. Despite service of notices, respondents did not choose to enter appearance either in person or through a Counsel. The applicant filed affidavit of R.Ramakrishna Reddy in lieu of Chief Examination. 16 documents have been placed on record and and they are marked as Exs.A.1 to A.17. Heard the learned Counsel appearing for the applicant and perused the evidence of P.W.1 and Exs.A.1 to A.17. As per Ex.A.4-Prized Subscriber Bid Payment Final Statement, the 1st respondent received an amount of Rs.19,617.20 P.S. As per Ex.A.9 – Certified True Copy of Ledger Folio in T.No.24 of Group No.ST20D, the 1st respondent paid 19 instalments. He committed default in paying the rest of the instalments. The evidence of P.W.1 and Exs.A.1 to A.17 substantiate the claim of the applicant against respondents No.1 to 3. Accordingly, the application is allowed with costs granting a Decree in favour of the applicant and against respondents No.1 to 3, jointly and severally, for a sum of Rs.6,000/-, with interest @ 12% per annum w.e.f. 23-5-2000 till this day and @ 6% per annum from this day till the date of realization. _________________________ B.Seshasayana Reddy, J 12th July, 2011 smr