M/S. Sirsilk Limited (In Liqn.) vs. No Respondent
Original PDF →Facts
The Official Liquidator, attached to the High Court of Telangana and Andhra Pradesh, filed a Company Application seeking permission to take on record the half-yearly accounts of M/s. Sirsilk 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 independent auditors, M/s. Padmanabha Rao & Co., Chartered Accountants, whose report was submitted on January 30, 2026. Additionally, the Official Liquidator requested permission to meet the costs of the application from the company's available funds or the Estate and Establishment Fund, subject to reimbursement upon realization of assets. The application was supported by an affidavit and heard by the High Court.
Held
The Court held that the application should be allowed. Specifically, the Court ordered that the half-yearly accounts of M/s. Sirsilk Limited (in liquidation) for the period from April 1, 2024, to September 30, 2024, along with the Independent Auditors' Report dated January 27, 2026, submitted on January 30, 2026, by M/s. Padmanabha Rao & Co., Chartered Accountants, be taken on record. Furthermore, permission was granted to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditor. The Court also accorded permission for the Official Liquidator to make this payment from the available funds of the company in liquidation, or from the Estate and Establishment Fund if no funds were available in the company's account, subject to reimbursement from the company's funds upon realization of its assets. The reasoning was based on the accompanying affidavit and 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 from 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 27.01.2026. 2. Whether permission should be granted to the Official Liquidator to make the payment of audit fee of Rs. 500/- plus GST to the auditors. 3. Whether permission should be granted 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 allowance of the application based on the accompanying affidavit and the filed half-yearly accounts. The revenue or State did not appear to have made any arguments as this was an application by the Official Liquidator for administrative and financial permissions concerning a company in liquidation.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
Cause title — parties, addresses and appearances
!E! - i4i5i::i.liF e&ii$ay IN TTIE HIGII COURT FOR THE STATE OF TELANGANA AT HYDERABAD THE HON'BLE SMT.JUSTICE T. MADHAVI DEVI COMPANY APPLICATION No.57 of 2026 COMPANY PETITION No.57 of 1999 DATE: 06.05.2026 Between: The Offi cial Liquidator, attached to the Hon'ble High Court of Telangana and Andhra Pradesh, l" Floor, Corporate Bhawan, Bandlaguda, Nagole, Hyderabad - 500068. .Applicant ORDER This application is filed under Section 462 of Companies Act, 1956, read with Rules 298 and 306 of the Companies (Court) Rules, 1959, seeking the following reliefs: To take the half-yearly accounts ofthe subject company (in liquidation) for the period from 01.04.2024 to 30.09.2024, along with Independent Auditors'Report dated 27.01.2026 submitted on 30.01.2026 by M/s. Padmanabha Rao & Co., Chartered Accountants on record and permission may be IN -t- COMPA_57 2026 in cP 57 lggs accord()d to make the payment of audit fee of Rs.500/_ plus GS f to the said auditor. ii. Cosr ol this application (Court fee Stamps & Notary Charges etc.,) ntay be permitted to be met out by the Official Liquidaror front the available funds of the company (in liquidat on) or Estate and Establishment Fund account if no fund is available in the company,s account; subject to reimbur;ement of the same from the lunds of company (in liqn) upon rcalization of assets of the Company (in liqn) wheneve,r so happened and To pass such other order or orders as this Hon,ble Court mav deem fit and proper in this regard.
Heard Sri J. Sreenadh Reddy, learned counsei appearing for the Official Liouidator and perused the affidavit filed in support of this application
Having r,:gard to the reasons stated in the accompanying affidavit and upon considering the half_yearly accounts filed by the leamed Official Liquidator, this application is allowed with the follorving: -
=: !-:B!ri1"aw COMPA_57 2026 in cP 5',7 1999 a. The half-yearly accounts of the subject company, which is ln liquidation for the period from 01.04.2024 to 30.09.2024, along with Independent Auditors' Report dated 27.01.2026 submitted on 30.01.2026 by M/s.Padmanabha Rao & Co., Chartered Accountants 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 leamed Official Liquidator to make the said payment from the available funds of the Company (in liquidation), or from the Estate and Establishment Fund account if no fund is available in the Company's account, subject to reimbursement fiom the funds of Company (in liquidation) upon realization of its assets. . M VIJAYA BHASKER // JOINT REGISTRAR //// S CTION OFFICER '1 . The Official Liquidator, M/s. Sirsilk Limited(ln Liqn ) office at 1st floor, Corporate Bhawan, Band laguda, Nag ole, Hyderabad -50006 8 2. fhe nies, MinistrY of Corporate Affairs, Government of lndia Registrar of Compa 2nd floor corPorate Bhawan, Nagole, Bandlaguda, Thattiannaram Village HaYathnagar M Pin Code 500 680 To, andal, Ranga ReddY District, Telangana State c-"lJ
3 The Region al Drrector, South Eastern Region, Ministry of Corporate A,ffarrs, ll j +locr Corporate Bhawan, Nagole, Bandlaguda, Thattiannaram Village Heryathnagar Mandal, Ranga Reddy District Telangana State, Pin Code 500 6tr0 4 The Sectlon Offrcer O S Section, High Court at Hyderabad, for the State of Teiangana 5 One CC tc S'i J Sreenadh Reddy, Counsel for Official Liquidator, High Court at Hyderabac. 6 Two CD Copres Pfl(
HIGH COURT DATED: OGlOSl2026 ORDER COMPA.No.57 ot 2026 IN C.P. No. 5711999 ALLOWING THE APPLICATION h H s E c u 72 -ll FI IA 2[ o 26 I$ JU s 20 o ( 5o l.lt e\ .A t t D P s / 2-l 6 []6 1 c
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.