M/S.Resolute Electronics Private Limited (In Liqn.) vs. No Respondent

Facts

The Official Liquidator, attached to the High Court of Telangana and Andhra Pradesh, filed a Company Application (No. 91 of 2026) seeking permission to take on record the half-yearly accounts of M/s. Resolute Electronics Private Limited (in liquidation) for the period from April 1, 2024, to September 30, 2024. The application also sought permission to pay an audit fee of Rs. 500/- plus GST to the auditors, M/s. Murthy & Kanth., Chartered Accountants, and to meet the costs of the application from the company's funds or the Estate and Establishment Fund. The application was filed under Section 462 of the Companies Act, 1956, read with Rules 298 and 306 of the Companies (Court) Rules, 1959.

Held

The Court held that the half-yearly accounts of M/s. Resolute Electronics Private Limited (in liquidation) for the period from April 1, 2024, to September 30, 2024, along with the Independent Auditors' Report dated February 9, 2026, submitted on February 11, 2026, by M/s. Murthy & Kanth., Chartered Accountants, should be taken on record. The Court also granted permission to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditor. Furthermore, permission was accorded to the Official Liquidator to make this payment from the available funds of the company in liquidation or from the Estate and Establishment Fund account if no funds were available in the company's account, subject to reimbursement from the company's funds upon realization of its assets. The Court found the reasons stated in the accompanying affidavit to be sufficient for allowing the application.

Key Issues

1. Whether the Court should take on record the half-yearly accounts of the company in liquidation for the period 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 09.02.2026. 2. Whether permission should be granted to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditors. 3. Whether the Official Liquidator should be permitted to meet the costs of the application from the available funds of the company or the Estate and Establishment Fund, subject to reimbursement. The petitioner, the Official Liquidator, argued for the approval of the accounts, the payment of audit fees, and the reimbursement of application costs, citing the necessity of these actions for the proper winding up of the company. The revenue or State did not appear to have made any specific arguments as no opposing counsel or submissions were recorded in the judgment.