M/S.Fiona Consumer 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 seeking permission to take on record the half-yearly accounts of M/s. Fiona Consumer Products Private 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. KBS and Associates, and to meet the costs of the application from the company's funds or the Estate and Establishment Fund. The Official Liquidator submitted an affidavit in support of the application and presented the auditor's report dated January 12, 2026, submitted on January 22, 2026.
Held
The Court allowed the application. It ordered that the half-yearly accounts of the subject company, which is in liquidation, for the period from April 1, 2024, to September 30, 2024, along with the Independent Auditors' Report dated January 12, 2026, submitted on January 22, 2026, by M/s. KBS & Associates, Chartered Accountants, be taken on record. The Court also accorded permission to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditor. Furthermore, permission was 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 if no funds were available in the company's account, subject to reimbursement from the funds of the Company (in liquidation) upon realization of its assets. The Court found the reasons stated in the accompanying affidavit to be sufficient and considered the half-yearly accounts filed by the Official Liquidator.
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 12.01.2026. 2. Whether permission should be granted to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditors. 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 account, subject to reimbursement. Contentions: Petitioner (Official Liquidator): The Official Liquidator argued that the application was filed under Section 462 of the Companies Act, 1956, read with Rules 298 and 306 of the Companies (Court) Rules, 1959. The Official Liquidator presented the necessary documents and sought the Court's approval for the financial matters related to the company in liquidation. No specific arguments were recorded for the revenue or State as this was an application by the Official Liquidator concerning the administration of a company in liquidation.
Sections Cited
Section 462, Companies Act, 1956, Rule 298, Companies (Court) Rules, 1959, Rule 306, Companies (Court) Rules, 1959
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Cause title — parties, addresses and appearances
The Court made the following: ORDER
IN THE HICH COURT IOR THE STATE OF TELANGANA AT HYDBRABAD THE HON'BI-E SMT..IUSTICE T. MADHAVI DE,VI COMPANY APPLICATION No.3l of 2026 IN COMPANY PETITION No.l26 of 2011 DATE: 17.03.2026 Between: t-hc Olljcial Liquidator. Attached to the Hon'ble High Court of 1'elangana and Andhra Pradesh, l'' Floor, Corporate Bhar.l'an, Bandlaguda, Nagole, Hyderabad - 500068. ...Applicant 'Ihis apptication 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: l'o take the half-yearly accourlts of the subject company (in liquidation) for the period from 01.04.2024 to 30.09.2024, along with Independent Auditors' Report dated 12.01.2026 strbrnitted on 22.01 .2026 by Mis. KBS & Associates, Chartered Accountants on record aad perrnission may be ORDEIT
COM|'A i t_2026 in cP 126 2014 irccorded to makc the payrnent of audit fee of Rs.500/- plus GST to the said auditor. ll. Cost ol this application (Cour' fee Stamps & Notary Charges etc..) rnar be pennitted to be met out by the Official Liquidator liorn the available funds of the company (in liquidatiorr) or Estate and Establishment F'und account iF no fund is available in the company's account; subject to reinrbursernent ol' the sarnc fi'om the funds of company (in liqn) upon realization ol' assets of the Company (in tiqn) rvhenever so happerred and To pass such otlrt'r order or ordcrs as this Hon'ble Court may deem fit and proper in this regard
Heard Sri .
Sreenadh l{cddy, leamed counsel appearing for the Official Liquidator and perused the atfidavit filed in support of this application.
Having reqard to thc reasons stated in the accompanying affidavit and upon considering the hall-yearly irccounts filed by the leanred Ollicial [.iquidator. this application is allowed with the follou,ing:- Z
coMP^,r r-r;;;1" cP 126 2014 a. The half-yearly accounts oithe subject company' which is in liquidation tbr the period from 0l'04'2024 to 30.09.2024, atong with Independent Auditors' Report dated 12.01.2026 submitted on22'01'2026 by tWs' KBS & Associates, Chartered Accountants are taken on record b. Permission is accorded to the learned Official Liquidator to pay an audit fee ot'Rs'500/- plus GST to the auditor' c. Permission is also accorded to the leamed Official Liquidator to tnake the said payment from the available funds of the Company (in liquidation)' or from the Estate and Establishment l''und account if no fund is available in the Company's account, subject to reimbursement from the lunds of Company (in liquidation) upon realization of at 1st floor, Corporate Bhawan, Bandlaguda, Nagole, Hyderabad -500068. The Re,g_iskar of Companies. ttlinistry of COrporate AffairS, Government of lndia 2no floor, Corporate Bhawan, Nagole, Bandlaguda, Thatttannaram Village Hayathnagar lvlandal, Ranga Reddy District, Telangana State Pin Code 500 680. The Regional Director, South Eastern Region, Ministry of Corporate Affairs, 3'd floor Corporate Bhawan, Nagole, Bandiaguda, Thattiannaram uiltage_-Hayathnagar tt/landal, Ranga Reddy Distrtct Telangana State, pin Code 5O0 680. 3 To, its assets . K.SHYLES JOINT REGI //// SECTION OFFICER l The Official Liquidator, l\,4/s. Fiona Consumer Produ Private Limited office 2 3 I
t #;i"r"i:"t officer, o s. section, High court at Hyderabad, for the state of t :tff:rjflSi J Sreenadh Reddy, Counset for officiat Liquidator, Hish Court
Two CD Copies DI,/I'SI, q*
HIGH COURT DATED: 11rc3t2026 - ORDER ---a'a=:-'--. 1;.iI r 1,, ,\ \ o U 3 0 APfl 2026 't,t', COMPANY AppLtCATtO No. 31 .t- ol2026lt.err.t At.\ *,,:' -..,, IN COMPANY PET|T|ON NO: 126 OF zo14 ALLOWING THE APPLICATION L0$,> ,ar1: ,Kro" /,. \e A kx
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.