In The Matter Of M/S.Apple Laboratories Limited (In Liqn.) vs. Nil
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. Apple Laboratories Limited (in liquidation) for the period from 01.04.2024 to 30.09.2024. The application also sought permission to pay an audit fee of Rs. 500/- plus GST to the 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, subject to reimbursement. 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 learned counsel for the Official Liquidator presented the arguments.
Held
The Court held that the half-yearly accounts of the subject company, which is 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, should be taken on record. 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 the said 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 satisfactory and considered the 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 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 12.01.2026, as required by the Companies Act, 1956 and the Companies (Court) Rules, 1959. 2. Whether permission should be granted to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditors, M/s. KBS and Associates, as per the terms of their engagement. 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 upon realization of assets. The petitioner (Official Liquidator) argued for the approval of the accounts, the payment of audit fees, and the utilization of funds for application costs, citing the necessity of these actions for the proper winding up of the company. 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
[ 321e 1 IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD THUR AY, THE FIFTH DAY OF MARCH TWO THOUSAND AND TWENTY SIX PRESENT THE HONOURABLE SMT JUSTICE T.MADHAVI DEVI COMPANY APPLICATION NO: 13 OF 2026 COMPANY PETITION NO: 83 of 2003 ln the matter of the Comoanies Act. 1956 And ln the matter of M/s. Apple Laboratories Limited (ln Liqn.)
Between: The Official Liquidator, attached to the Hon'ble High Court of Te[angana, and Andhra Pradesh, 1"tfloor, Corporate Bhawan, Bandlaguda, Nagole, Hyderabad- 500068 ...APPLICANT Application Under Section 462 of the Conrpanies Act, 1956 read with Rule 298 and Rule 306 of the Companies (Court) Rules. 1959 praying that this Hon'ble Court may be pleased to i. Take the half-yearly accounts of the subject company (in liquidation) for the period lrom O1.O4.2O24 to 30.09.2024, along with Independent Auditors' Report dated '12.01.2o26 submitted on 22.01 .2026 by lvl/s. KBS and Associates. Chartered Accountants on record and permission may be accorded to make the payment of audit fee of Rs.500/- plus GST to the said auditor. ii. Cost of this application (Court fee Stamps and Notary Charges etc.,) may be permitted to be met out by the Official L
The judgment continues below.
Read the full judgment
A free account opens 10 full GST judgments a month (one account works on both bharattax.net and this site). Re-reading one you have already opened does not count again.
The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.
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.