M/S.Tirumala Technologies Limited (In Liqn.) vs. No Respondent
Original PDF →Facts
The Official Liquidator, attached to the High Court for the State of Telangana and Andhra Pradesh, filed a Company Application seeking permission to take on record the half-yearly accounts of M/s. Tirumala Technologies Limited (in Liquidation) for the period from 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 27.01.2026. The application also prayed for permission to pay an audit fee of Rs. 500/- plus GST to the auditors, M/s. Padmanabha Rao & Co., Chartered Accountants. Additionally, the Official Liquidator sought permission to meet the costs of the application from the company's funds or the Estate and Establishment Fund, subject to reimbursement upon realization of assets. The application was supported by an affidavit and argued by the Official Liquidator's counsel.
Held
The Court held that the half-yearly accounts of the subject company in liquidation for the period from 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 27.01.2026, should be taken on record. Permission was granted 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 if company funds were unavailable, subject to reimbursement from the company's funds upon realization of its assets. The Court found no impediment to granting these reliefs based on the reasons stated in the accompanying affidavit and the consideration of the filed accounts.
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 27.01.2026, as per Section 462 of the Companies Act, 1956 read with Rules 298 and 306 of the Companies (Court) Rules, 1959? The petitioner (Official Liquidator) argued for the acceptance of these documents and the approval of the audit fee and associated costs. The revenue or State did not appear to have made any arguments as the matter was an application by the Official Liquidator before the High Court concerning company liquidation proceedings.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
Cause title — parties, addresses and appearances
IN TTIE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD THE HON'BLE SMT.JUSTICE T. MADHA\/I DEVI COMPANY APPLICATION No.63 of 2026 COMPANY PETITION No.30 of 200i; DATE:06.05.2026 Befween: The Official Liquidator, attached to the Hon'ble High Court of Telangana and Andka Pradesh, I " Floor, Corporate Bhawan, Bandlaguda, Nagole, Hyderabad - 500068. ...Applicant ORDER This application is filed under Section 462 <tf Companies Act, 1956. read with Rules 298 and 306 of the Comp,anies (Court) Rules, 1959, seeking the following reliefs: To take the half-yearly accounts of the subjec. company (in liquidation) for the period from 01.04.2024 tt 30.09.2024, along with Independent Auditors' Report dated 27.01.2026 submitted on 30.01.2026 by N4/s.Padmanabha Rao & Co., IN Chartered Accountants on record and permirision may be TMDJ COMPA 53 _2025 in cP 30 2005 accorded to make the payment of audit fee of Rs.500/- plus GST to the said auditor. ii. Cost of this application (Cout fee Stamps & Notary Charges etc.,) may be permitted to be met out by the Official Liquidator from the available funds of the company (in liquidation) or Estate and Establishment Fund account if no fund is available in the company's accoun| subject to reimbursement of the same from the funds of company (in liqn) upon realization of assets of the Company (in iiqn) whenever so happened and To pass such other order or orders as this Hon'ble Court may deem fit and proper in this regard. 2- Heard Sri J. Sreenadh Reddy, learned counsel appearing for the Official Liquidator and perused the affidavit filed in support of this application. 3, Having regard to the reasons stated in the accompanying affidavit and upon considering the half-yearly accounts filed by the learned Official Liquidator, this application is allowed with the following:- 7
cP 30 200_5 3 a The half-yearly accounts of the subject comrany, which is ln liquidation for the period from Cl.04.2024 to 30.09.2024, along with lndependent Auditors' Report dated 27 .01 .2026 submitted on 30.01 .2026 by lzl/s.Padmanabha Rao & Co., Chanered Ar:countants are taken on record b. Permission is accorded to the leamed Official Liquidator to pay an audit fee of Rs.500/- plus GST to the auditor. c. Permission is also accorded to the learned Official Liquidator to make the said payment from the available lunds of the Company (in liquidation), or fiom the Estate and Establishment Fund account if no fund is available in the Company's account, subject to reimbursement from the funds of Company (in liquidation) upon realization of its assets. T. KRISHNA KUMAR JOINT REGISTRAR //// To, ,N.,o* oFFrcER tt 1, The Official Liquidator, M/s Tirumala Technologies Li;1t€,d (ln Liqn.), Office at 1st floor, Corporate Bhawan, Bandlaguda, Nagole, Hyderabad.
The Regiskar of Companies, Ministry of Corporate Affairs, Government of lndia, 2"' Floor, Corporate Bhawan, Nagole, Bandlaguda, Thattiannaram Village, Hayathnagar Mandal, Ranga Reddy District, Telangana State Pin Code-500068. 3. The Regional Director, South Eastern Region, Ministry ol Corporate Affairs, 3'' Floor, Corporate Bhawan, Nagole, Bandlaguda, Thatt annaram Village, Hayathnagar Mandal, Ranga Reddy District, Telangana {ltate Pin Code 500068
The Section Officer, O.S.Section, High Court of Hyderabad for the State of Telangana
One CC to Sri J.Sreenath Reddy, Advocate for Official L quidator, High Court for the State of Telangana(OPUC)
Two CD Copies \ L \
HIGH COURT DATED: 0610512026 ORDER COMPA.No.63 of 2026 IN C.P.No.30 OF 2005 -',f-\ ririi zflff '* I koR 22 1 o Ut t i: /' Srr rCFr o f- ORDERING THE COMPANY APPLICATION h )3 t\gt w-s
Reproduced from the public record of the Telangana High Court. Verify against the court's own copy before relying on it. Income tax judgments are on bharattax.net.