M/S.Exxova Soutions (INDIA) Private Limited (In Liqn.) vs. No Respondent
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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 Exxova Solutions (India) Private Limited (in liquidation) for the period 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report. The application also sought permission to pay an audit fee of Rs. 500/- plus GST to the auditors, M/s KBS & Associates, Chartered Accountants. The Official Liquidator further requested 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 heard by the Court.
Held
The Court allowed the Company Application. Specifically, it ordered that the half-yearly accounts of the subject company, M/s Exxova Solutions (India) Private Limited (in liquidation), for the period from 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 12.01.2026, submitted on 22.01.2026 by M/s KBS & Associates, Chartered Accountants, be taken on record. Furthermore, permission was accorded to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditor. The Court also granted 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 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 application was allowed without costs.
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 12.01.2026. 2. Whether permission should be granted to pay an audit fee of Rs. 500/- plus GST to the auditors, M/s KBS & Associates. 3. Whether the Official Liquidator should be permitted to meet the costs of the application from available funds, subject to reimbursement. Arguments for the Petitioner (Official Liquidator): The Official Liquidator, through their counsel, presented the half-yearly accounts and the auditors' report, seeking their formal acceptance by the Court. They also requested approval for the payment of the audit fee, which is a necessary expense for the liquidation process. The request to utilize available funds for the application costs, with a provision for reimbursement, was made to ensure the smooth functioning of the liquidation proceedings. No specific statutory provisions or precedents were explicitly mentioned in the provided text for the petitioner's arguments, beyond the Companies Act, 1956, and the Companies (Court) Rules, 1959, under which the application was filed. Arguments for the Revenue/State: The provided judgment does not record any arguments from the Revenue or State.
Sections Cited
Section 462, Rule 298, Rule 306
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Cause title — parties, addresses and appearances
ORDER This application is filed under Section ;162 of Companies Act, 1956, read with Rules 298 and 306 of the C'onrpanies (Cour-t) Rules, 1959, seeking the following reliels To take the half-yearly accounts ol- the subicct cornpanl (in liquidation) for the period from 01.04.1011 to -10 0c)-2014- along with Independent Auditors' Reporl dated ll-0 1.1026 submitted on 22.01.2026 bv M/s. KBS & Assocrates. IN lr Chaftered Accountants on record anrl llermissiott tnal' be TMDJ COMPA_X]025 io cP 2M 2014 2 accorded to make the payment of audit fee of Rs.500/- plus GST to the said auditor. 1t Cost of this application (Court lee Stamps & Notary Charges etc.,) may be permitted to be mct out by the Official Liquidator from the available lunds of the company (in liquidation) or Estate and Establishr.nent Fund account if no fund is available in thc c.-'rtpan!'s account; subject to reimbursement of the same tiorn thc lunds of' cornpany (in liqn) upon realization of assets o['the Conrpany (in liqn) whenever so happened and To pass such other order or orders as this Hon'ble Corrrt may deem fit and proper in this regard
Heard Sri J. Sreenadh Rcddr'. Icarnctl counsel appearing for the Official Liquidator and peruscd thc aflldar rt lilcd in support of this application.
Having regard to thc reasons stated in thc accompanying affidavit and upon considering thc half'-vcall_r acc()r-urts filed by the learned Official Liquidator. this application is allowed with the following:-
T N,T DJ ION{PA 20 2026 in (:P 204 2011 3 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 12.01.2026 submitted on 22.01.202(r bv M/s. KBS & Associates, Chartered Accountants are taken on record b. Permission is accorded to the learned Official Liquidator to pay an audit fee of Rs.500/- plus GST to rhe audiror. c. Permission is also accorded to the leamed Otllcial Liquidator to make the said payment fronr the available lunds of the Company (in liquidation), or lrorn rhe l]state and Establishment Fund account if no funrl is arailable in the Company's account, subject to reimburscrnenr liont the lunds of Company (in liquidation) upon realizarion of' rts assets. . A.V.S.S.C.S.M.SARMA JOINT REGISTRAR //// \ To, \J SECTION OFFICER 1 . The Officral Liquidator, M/s Exxova Soutions (lnd ) Private Limrted (ln Liqn.) and Andhra Pradesh, 1st attached to the Hon'ble High Court of Telan an , Nagole erabad -500068 of Corpo fa Affarrs, Government of agole, Bandlaguda, Thattiannarama Village, Hayathnagar Mandal, Ranga Reddy District, Telangana State Prn Code-500068
The Regional Director, South Eastern Region, Ministry of Corporate Affairs, 3'o Floor, Corporate Bhawan, Nagole, Bandlaguda, Thattiannaram Village, Hayathnagar Mandal, Ranga Reddy District, Telangana State 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 Officia Liquidator, High Court for the State of Telangana(OPUC) 6 Two CD Copies Ksi PSL floor. Corporate Bhawan, Bandlaguda 2 The Registrar of Companies, Ministry lndra, 2no Floor, Corporate Bhawan, N \cr
HIGH COURT DATED:1710312026 ,7;;Ai,.: i4 <' .,, .L .1' 0 q Nry 2c26 Ii ORDER C.A.No.20 ot 2026 IN C.P.No.204 ot 2014 Allowing the Company Application Without costs. .1.:S 'r', -rt .::,. ..: .sg5 z:d g &'.
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.