M/S.Garvee Granites Limited (In Liqn.) vs. No Respondent
Original PDF →Facts
The Official Liquidator, attached to the High Court for the State of Telangana and Andhra Pradesh, filed a Company Application (No. 22 of 2026) 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 Garvee Granites Limited (in liquidation) for the period from 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 12.01.2026. Crucially, the application also prayed for permission to make a payment of Rs. 500/- plus GST as audit fee to the auditor, M/s KBS & Associates, Chartered Accountants. The Official Liquidator also sought permission to meet the costs of the application from the company's funds or the Estate and Establishment Fund, subject to reimbursement.
Held
The Court allowed the Company Application. It took on record the half-yearly accounts of M/s Garvee Granites 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 by M/s. KBS & Associates, Chartered Accountants. Permission was accorded 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 company's funds upon realization of its assets. The Court also permitted the Official Liquidator to meet the costs of the application from the company's funds or the Estate and Establishment Fund, subject to reimbursement. The reasoning was based on the reasons stated in the accompanying affidavit and consideration of the filed accounts.
Key Issues
1. Whether the Court should take on record the half-yearly accounts of M/s Garvee Granites Limited (in liquidation) for the period 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 12.01.2026, as submitted by the Official Liquidator. 2. Whether permission should be granted to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to M/s KBS & Associates, Chartered Accountants. 3. Whether the costs of the Company Application should be permitted to be met from the available funds of the company (in liquidation) or the Estate and Establishment Fund account, subject to reimbursement. Petitioner's Arguments: The Official Liquidator, through their counsel, presented the application seeking the aforementioned reliefs. The arguments focused on the procedural necessity of taking the accounts and auditor's report on record and obtaining permission for the payment of audit fees and application costs, as per the established procedures for companies in liquidation. Revenue/State's Arguments: The judgment does not record any specific arguments made by the revenue or the state. The matter proceeded based on the application filed by the Official Liquidator and the court's perusal of the supporting affidavit and accounts.
Sections Cited
Section 462, Companies Act, 1956, Rule 298, Companies (Court) Rules, 1959, Rule 306, Companies (Court) Rules, 1959
AI-generated summary — verify with the full judgment below
Cause title — parties, addresses and appearances
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) IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD THE HON'BLE SMT.JUSTICE T. MADHA\'IDEVI COMPANY APPLICATION No.22 of 2026 IN REFERRED COMPANY CASE No.6 of 2001 DATE: 17.03.2026 Between: The Offi cial Liqu idator, Attached to the Hon'ble High Ct-rurt of Telangana and Andhra Pradesh, 1"t Floor, Corporatc Bharvan, Bandlaguda, Nagole, Hyderabad - 50006t1. ...Applicant ORDER '[his application is tllcd under Section 462 of Companies Act, 1956, read rrith l{ules 198 antl -.i06 of the Companies (Court) Rules, 1959, secking the firllorr in_q relietis To take the halt'-r r'arh accounts ot' the subject company (in I liquidation) firr the periocl fr'onr 0l .01.2024 to 30.09.2024, along r,'ith Irrdependent Auditors' Report dated 12.01.2026 submitted on ll.0l .2026 b1, M/s. KBS & Associates, Chartcrcd Accountants orr lecord and penrission may be OOMP A 12].026 in RCC 6 2001 accorded to make the payment of audit fee of Rs.500/- plus GST to the said auditor. ll. 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 E,state 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 {it and proper in this regard
Ileard Sri J. Srccnadh lleddy, leamed counsel appearing for the Ottlcial Liquidator and perused the affrdavit filed in support of this application.
Having regard to the reasons stated in the accompanying affidavit and upou consi.lering the half-yearly accounts filed by the learned Olficial Liquidator. this apolication is allowed with the tblloiving: -
, To COMP A, 22 2026 in RCC 6 2001 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 22.01.2026 by M/s. KBS & Associates, Chartcred Accountants are taken on record b. Permission is accord^d to the leamed Official Liquidator to pay an audit fee ol Rs.500/- plus GST to the auditor. c. Permission is also accorded to the leamed Official Liquidator to make the said payment frorn the available funds of the Company (in liquidation), or lrom the Estate and Establishment F Lrnd account il no lutrtl is available in the Company's accoLlnt, subject to reirnbursement from the funds of Company (in liquidation) upon realization of its assets. 1 //// The Official Liquidator, M/s Garvee Granites Hon'ble High Court of Telangana, 'lst floor, . B. SATYAVATHI Jo!ryI-BtSISrsaR- SECTION OFFICER tm ed (ln Liqn) attached to the o orate Bhawan, Bandlaguda, 2 , Ministry of Corporate Affairs, Government of hawan, Nagole, Bandlaguda, Thattiannarama Village, Hayathnagar [\4andal, Ranga Reddy District, Telangana State Pin Code-500068
The Regional Director. South Eastern Region, Ministry of Corporate Affairs, 3' Floor, Corporate Bhawan, Nagole, Bandlaguda, Thattiannaram Village, Hayathnagar Mandal, Ranga Reddy District, Telangana State Pin Code 500068
The Section Officer, O S Sectron, High Court of Hyderabad for the State of Telanqana Nagole, Hyderabad -500068 The Reoistrar of Comoanies lndia, 2rd Ftoor, Corpdrate B , I
One CC to Sri J.Sreenath Reddy, Advocate for Offrcial Liquidator, Hgh Court for the State of Telangana(OPUC)
Two CD Copies Ks/Sa Vt- I I : I
HIGH COURT DATED: 1 7 10312026 ORDER C.A.No.22 of 2026 IN R.C.C.No.6 of 2001 .-B' -:.', . t. 1'' .llat ,Z{ ,j0 -, -:.- _-:=. _ - I I iit : ta.- 4 tiu ?.l]28 ;' :':1',.,t:1 ,!, ALLOWING THE COMPANY APPLICATION WITHOUT COSTS. ."dd F-* o i'.-
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.