M/S.Lamino Paper Products Private 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 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. Lamino Paper Products Private Limited (in 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 make payment of an audit fee of Rs. 500/- plus GST to the auditors, M/s. Murthy and Kanth., Chartered Accountants, and to cover the costs of the application from the company's funds or the Estate and Establishment Fund, subject to reimbursement.
Held
The Court decided to allow the Company Application. Firstly, it ordered that the half-yearly accounts of M/s. Lamino Paper Products Private Limited (in liquidation) for the period from 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 09.02.2026, be taken on record. Secondly, permission was accorded to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditors. Thirdly, permission was also granted 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, with the condition that such payments would be subject to reimbursement from the company's funds upon the realization of its assets. The reasoning was based on the reasons stated in the accompanying affidavit and the consideration of the filed accounts.
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 per 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 costs of the Company Application should be permitted to be met out by the Official Liquidator from the available funds of the company (in liquidation) or the Estate and Establishment Fund account, subject to reimbursement? Arguments for the Petitioner (Official Liquidator): The Official Liquidator, through his counsel, submitted the affidavit in support of the application and argued for the acceptance of the accounts, the payment of audit fees, and the reimbursement of application costs. No specific arguments were recorded for the revenue or State, as this was an application by the Official Liquidator concerning the liquidation of a private company.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
Cause title — parties, addresses and appearances
1
IN THE HIGH COTiRT FOR THE STATE OF TELANGANA AT HYDERABAD THE HON'BLE SMT.JUSTICE T. MADHAVI DEVI COMPANY APPLICATION No.l10 OF 2026 IN C.P.No. 14 OF 2000 DATE:06.05.2026 Betr+ een: The Officiat I-iquidator. Attached to the Ilon'ble High Court of Telangana and A ndhra Pradesh, 1't I:loor, Corporate Bharvan, Bandlaguda, Nagole, Hyderabad 500068. ...Applicant ORDER This application is filed under Section 462 of Companies Act. 1956. read w,ith Rules 298 and 306 of the Clompanies (Court) Rules. 1959, seeking the fbllowing reliefs: 'fo take thc hall--l early accounts of the subject companl, (in liquidation) for the period from 01 .04.2024 to 30.09.2024, along w'ith Independent Auditors' Report dated 09.02.2026 submitted on 1t.02.2026 by M/s. Murthy & Kanth., Chartered ,\ccountants on record and permiS.siOn may be COMPA_ I l0_2026 in cP t4/2000 accorded to make the payment of audit fee of Rs.500/- plus GST to the said audiror. ii. 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 hled in support of this application.
Having regard 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 following:- COMPA I l0 2026 in cP l4/2000 The half'-yearlr. accounts of the subject company, which is 3 a ln liqrridation fbr the period from 01.04.2024 ro 30.09.:024, along with Independent Auditors' Report dated 09.02.2026 submitted on 11.02.2026 bv Mis. Murthy & Kanth., Chartered Accountants are taken on rccord b. Pennission is accorded to the leamed Official Liquidator to pa)'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 funds of the Company (in liquidation). or from the Esrate and Establishmenl Fund account if no fund is available in thc Companr's account, subject to reimbursement from the llnds of Company (in liquidation) upon realization of lts assets M VIJAYA BHASKER JOINT REGISTRAR , r' lRlrll COPY / / \ \. l' I SECT]ON OFFICER j1,6 , , ,,,"';'il;;,: :,.,,)"; ;iilil:,,:xiii;:"#:,:_ private Limited (rn Liqn) ii]::'l:'l' tr ,,'tt'''r ' i'' t'',, , ilr ils1.1[1a.1 - 500008. Pradesh' 1't Floor', c.rp61n1" r. _i;:, "_ .;,,: l.]]l r'rrrrr('\. \'linistr,\' of Corporate Arfairs,. Government of inc.tia, I i.,.. 1.,: .i., .r \.r, rr...: ..,,,r' . " \ag.le' Bantllagutia, nrurrirnnrl"^ u,illt*" ., r...'t.,lr District. Telangana strt", plrril,,J*:'i; r*."
.i. 'l he liegiorral Director, South Eastcrn Region, Ministry of Corporate Affairs' 3^l Floor, Corporate Bhawan, Nagole, Bandtaguda, Thattiannaram- - Village, Hai,athnagar l\,lar-rtla, Ranga Retldv District Telangana State, Pin Code - 500 068. -1. lhc Scction Officcr., O.S. Section, High Court of Hyclerabad for the State of '['clangana .i. C)ne CC to Sri J.Srinath Redtiv, Aclr,ocate for Official Liquidator, High Court for the State of Telangana (OPUC) (r. Irr,rCDC()pies. JC K/ABK l
i ITCIICOUTi] l).\ il i): 0a; 0:.l()]t., -!I r \Tt:) t S\ ' i.-*.' rii, 1 () u Ub,lli t 4 02 I ? f C()\1P,\\i\' \l'PI IC{ilO\ \o 11(,roi20?6 irr (.r )',i,. i 1 ,:i .ll(lli E o FATC'-iq FS o t * Pzo T I Jrs1req11l., ol th.:' ,\p-rplj(.it oi1 6 ol 2-( o)
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.