Madras High Court
R.Jayamalai vs The Official Liquidator on 10 June, 2025
Author: Anita Sumanth
Bench: Anita Sumanth
2025:MHC:1325
O.S.A.No. 117 of 2025
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 10.06.2025
CORAM :
THE HONOURABLE DR.JUSTICE ANITA SUMANTH
and
THE HONOURABLE MR.JUSTICE N.SENTHILKUMAR
O.S.A.No. 117 of 2025
and
C.M.P.No. 7299 of 2025
R.Jayamalai .. Appellant
vs
The Official Liquidator,
High Court, Madras,
As the liquidator of
M/s. KRM Kumaragam Chits Private Limited,
(In Provisional Liquidation) .. Respondent
Prayer : Appeal filed under Order 36 Rule 91 of Original Side read with
Clause 15 of Letters Patent against order dated 03.09.2024 made in
Company Application No. 603 of 2022 in C.P.No. 279 of 2016 on the
file of this Court.
For Appellant : Mr.K.Venkateswaran
For Respondents : Mr.Pola Raghunath
Official Liquidator
1/6
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O.S.A.No. 117 of 2025
JUDGMENT
(Delivered by Dr. ANITA SUMANTH.,J)
Read this order in continuation of and in conjunction with earlier
orders of the Court.
2. The matter was referred to the Office of the Official
Liquidator in view of their being certain submissions that the appellant
wish to make in regard to computation.
3. Post the explanations tendered, the Official Liquidator has
filed a report dated 10.06.2025 reading as follows:-
“The Official Liquidator attached to the
Hon'ble High Court, Madras as the Provisional
Liquidator of M/s. KRM Kumaragam Chits Private
Limited (In Provisional Liquidation) humbly
submits the report as follows:
1. This Hon'ble Court vide order dated
02.06.2025 in this OSA had directed the appellants
to attend the O/o. Official Liquidator, High Court,
Madras on 05.06.2025 at 4.30.p.m. to work out
exact amount remaining to be paid by the
appellant along with interest.
2. The counsels of the appellant viz., Sri
K. Venkateswaran, Advocate and Shri. M. Prem
Kumar, Advocate attended the meeting convened
by the Deputy Official Liquidator in the O/o.
Official Liquidator, Chennai on 05.06.2025, as per
the directions of this Hon'ble Court. While
discussing the matter in the meeting the counsels of
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the appellant submitted that the debtor viz., Smt.
Jayamalai paid a sum of Rs. 53,825 to the
company in provisional Liquidation as against her
dues and requested the Deputy Official Liquidator
to deduct the said amount of Rs. 53,825/- from the
debt due amount of Rs. 1,96,000/-
3. Accordingly, amount paid by the
debtor viz., 53,825/- has been deducted from the
total debt amount of Rs. 1,96,000/-making the
balance remaining unpaid at Rs. 142,175/-. Based
on such meeting conducted by Deputy Official
Liquidator ,the Official Liquidator submit that in
view of the background of leniency requested by
the appellant this Hon'ble Court may take a lenient
view with respect to the interest payable on the
above dues.
4. It is respectfully submitted that dues
have been calculated with interest @ 12%, 10%,
8% & 6% and calculation sheet annexed with this
report as Annexure -1. The Official Liquidator
prays that this Hon'ble Court may be pleased to
take lenient view on the rate of interest.
5. That in view of the above, this Hon'ble
Court may take this report on record and pass
suitable orders as deem fit and proper in the
circumstances of the case.”
4. We are given to understand that the appellant is a widow
working as a casual labourer. Having regard to all attendant facts and
circumstances, we direct that, as against 12% interest levied by the
Official Liquidator, interest at the rate of 8% be charged.
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5. The computation of outstanding with interest at 8% has been
per annexure to Report of the Official Liquidator is as follows:-
Interest @ 8% calculated on Rs.1,42,175/-
M/s. KRM Kumaragam Chits (P) Ltd (In Provisional Liquidation)
Mortgager : R. Jayamalai
Simple Interest
Debt Due Amount 1,42,175.00
Interest From 18.10.2016 to 05.06.2025
Interest 8% P.A.
From To No. of No. of No. of Days Interest
Years Months
18.10.2016 17.10.2024 8 0 0 90,992.00
18.10.2024 17.05.2025 0 7 0 6,634.83
18.10.2024 05.06.2025 0 0 19 592.07
Total Interest Payable Upto 05.06.2025 92,218.00
Total amount payable as on 06.06.2025 along
with Principal & Interest 2,40,393.90
6. The amount of Rs.2,40,393.90/- shall be remitted within a
period of eight (8) weeks from the date of receipt of a copy of this order.
Upon receipt of the entirety of the amount as above, the title documents
of the property stated to be presently in the possession of the Official
Liquidator shall be handed back to the appellant.
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7. This Original Side Appeal is disposed in terms of this order.
No costs. Connected miscellaneous petition is closed.
[A.S.M., J] [N.S., J]
10.06.2025
Index:Yes/No
Neutral Citation:Yes
ssm
To
1.The Official Liquidator,
High Court, Madras,
As the liquidator of
M/s. KRM Kumaragam Chits Private Limited,
(In Provisional Liquidation)
2.The Sub Assistant Registrar,
Original Side,
High Court, Madras.
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DR. ANITA SUMANTH, J.
and
N.SENTHILKUMAR, J.
ssm
10.06.2025
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