M/S.Mamatha Chit Funds Private Limited (In Prov.Liqn.) vs. No Respondent
Original PDF →Facts
The Official Liquidator, attached to the High Court of Telangana and Andhra Pradesh, filed a Company Application under Section 462 of the Companies Act, 1956, read with Rules 298 and 306 of the Companies (Court) Rules, 1959. The application sought to take on record the half-yearly accounts of M/s. Mamatha Chit Funds Private Limited (in provisional liquidation) for the period from 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 09.02.2026. The Official Liquidator 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, subject to reimbursement. The application was supported by an affidavit and heard by the High Court.
Held
The Court held that the application filed by the Official Liquidator was to be allowed. Specifically, the half-yearly accounts of the subject company, M/s. Mamatha Chit Funds Private Limited, for the period from 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 09.02.2026, were 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 no funds were available in the company's account, with the condition that these amounts would be reimbursed from the company's funds upon the realization of its assets. The Court found the reasons stated in the affidavit and the submitted accounts to be satisfactory for granting the reliefs sought.
Key Issues
1. Whether 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, should be taken on record by the Court, as prayed by the Official Liquidator under Section 462 of the Companies Act, 1956 and Rules 298 and 306 of the Companies (Court) Rules, 1959. 2. Whether permission should be granted to the Official Liquidator to pay the audit fee of Rs. 500/- plus GST to the auditors, M/s. Murthy & Kanth., Chartered Accountants. 3. Whether the Official Liquidator should be permitted to meet the costs of the application from the available funds of the company (in liquidation) or the Estate and Establishment Fund, subject to reimbursement. Contentions: The Official Liquidator, through their counsel, argued for the acceptance of the half-yearly accounts, the payment of audit fees, and the reimbursement of application costs, citing the necessity for proper winding-up proceedings and the auditor's report. The Revenue or State did not record any specific arguments in the judgment.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
Cause title — parties, addresses and appearances
iI,
IN THE HIGH COURT FOR THE STATE OF TT]LANGANA AT HYDERABAD THE HON'BLE SMT.JUSTICE T. MADHAYI DEVI COMPANY APPLICATION No.109 OB 2026 C.P.No. 13 OF 2002 DATE: 06.05.2026 Between: The Offi cial Liquidator, Attached to the Hon'ble High Court of Telangana and Andhra Pradesh, 1" Floor. Corporate Bhawan, Bandlaguda, Nagole, Hvderabad - 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, 1 959, seeking the following reliefs: To take the half-yearly accounts of the subject company (in liquidation) for the period from 01.04.2024 .o 30.09.2024, along with Independent Auditors' Report dated 09.02.2026 submitted on 11.02.2026 by M/s. Murthy & Kanth., Chartered Accountants on record and permission may be IN 1
- TMDJ COMPA_109_2026 in cP t32002 2 1l accorded to make the payment of audit fee of Rs.500/- plus GST to the said auditor Cost of this application (Court 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 account; subject to reimbursement of the same from the funds of company (in liqn) upon realization of assets of the Company (in liqn) whenever so happened and To pass such other order or orders as this Hon'ble Court may deem fit and proper in this regard.
Heard Sri J. Sreenadh Reddy, learned counsel appearing for the Official Liquidator and perused the affidavit filed in support of this application
Having regard to the reasons stated in the accompanying affidavit and upon considering the half-yearly accounts hled by the leamed Official Liquidator, this application is allowed with the following:-
TM DJ C()]v PA 109_2026 in cP 13i 2002 3 a The half-yearly accounts of the subject comlany, which is liquidation for the period from A1.04.2024 to ln 30.09.2024, along with Independent Au<litors' Report dated, 09.02.2026 submitted on 1t.02.2026 by M/s Murthy & Kanth., Chartered Accountants are taken on record. b. Permission is accorded to the leamed Olficial Liquidator to pay an audit fee of Rs.500/- plus GST to the auditor. c. Permission is also accorded to the lea,med Official Liquidator to make the said payment from the available funds of the Company (in liquidation), or fi.om rhe Esrate and Establishment Fund accounr if no fund is available in the Company's account, subject to reimblLrsement from the funds of Company (in liquidation) upon realization of its assets M VIJAYA BHASKER OINT REGISTRAR i / TRI.]E C]PY / / S CTION OFFICER i I^,t (r[iicia] Lic1uir,1atoi., \1/s. N,{a.rnatha Chit Funds Privah'Limited (In Prov Liqn ) attachctl tr-, thc High Court of Telangana and Andhra Pra,lesh, 1't Floor, Corporate Bharr'.-rt, Bancllagucla, Nagole, Hvtlerabacl - 500068 T5e Registr.rr oi-Con.'1-,or-ri"r, Ministrv of Corporate Affairs, G.vernment of India, l,'.' -r1o,-.r', Corpor.rtt' BIlau'an, Nagole, Bancllagucla, Thattiannaram Village' [{1i .,1111-.1c.1r' \{antial, Rang;l Recieli' District, Telangana SLrte, Pin Code-500 068
,:. Ihe Regional Director, South Easter.r-r Region, Ministry of Corporate Affhirs, 3r.l Floor', Corporate Bhawan, Nagole, Bandlaguda, Thattiannaram Village, Havathnagar Manda, Ranga Reddv District Telangana State, Pin Code - 500 068. 4. The Section Officer, O.S. Section, High Court of Hyclerabad {or the State of Telangar,.a. ,i. One CC tc Sri J.Srinath Redcly, Adr.,ocate for Official Liquidator, High Court for the State of Telangana (OPUC) b. Ti,vo CD Copies. iCK,;43" #,
IIIGH COURT DATED: 06.05.2026 CiIDER CO\"lP.{\Y APP1 ICATION No 109 of 2026 In C.P.No.13 of 2042 Disposing of the Application / "i:--:: ,;({tttt:; //'Cv' //\' 5+ (.1 z-ii .ol ,rfr/' ,ti t-,. .z/ T4 '.)',- 1'l rt-ll iilfr .9 .,, /:' t'...* r.r - >.;-Yr51;.^,16-1.i'ii -:,t. ...-...,:l- @^,t rlel >t
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.