SUDARSAN CHITS (INDIA) LTD. Vs. UMA SHARMA

JUDGEMENT

(1.) This is a claim for realising Rs. 3,273 made up of the principal amount of Rs. 1,595-74 and interest thereon. The official Liquidator, who is the provisional Liquidator of Sudarsan Chits (India) Ltd., is the claimant. The claim is for the respondents' liability in the kuri prized money drawn by the 1st respondent in kuri No. JG7/16. Respondents 2, 3 and 4 are impleaded as sureties for the debt.

(2.) On behalf of the 1st respondent a counter statement was filed raising the contention that the claim is barred by limitation. It was also prayed that in case the plea of limitation cannot be accepted, this court may waive the interest and allow the respondent to pay the principal amount in three bimonthly instalments.

(3.) Admittedly the last instalment was paid by the respondent on 29th January 1980. Winding up petition of the claimant company was filed on 2nd January 1981 and winding up order was passed on 13th October 1981. Subsequently the order of winding up was modified and a scheme was approved in appeal. The appellate judgment was dated 8th October 1982. In the appellate judgment Sudarsan Chits (India) Ltd. v. G. Sukumaran Pillai ILR 1983 (1) Kerala 700 (paragraph 23) the appellate court authorised the provisional liquidator to file 'suits' and take all steps necessary for the conduct of 'suits'. Subsequently, the company filed C.M.P. 14913 of 1983 to permit the filing of 'claims' under S.446 before this court for realising the dues to the company. This court by order, dated 18th August 1983 refused to grant permission to file claims in this court and directed to file suits in the respective courts for realising the dues to the company. That order was set aside by the Supreme Court in Sudarsan Chits (India) Ltd. v. G. Sukumara Pillai AIR 1984 SC 1579 In that judgment it was held that the order of winding up was neither cancelled nor recalled nor revoked nor set aside and it was effectively subsisting but inoperative for the time being. Accordingly it was held that the winding up court would have jurisdiction to take recourse to S.446 (2) of the Companies Act. The application for permission to file claims before this court was allowed by the Supreme Court by order dated 16th August 1984. The present claim was filed on 22nd July 1988.