M/S.Garvee Granites Limited (In Liqn) vs. No Respondent
Facts
The Official Liquidator, attached to the High Court for the State of Telangana and Andhra Pradesh, filed a Company Application seeking permission to take on record the half-yearly accounts of M/s Garvee Granites Limited (in liquidation) for the period from 01.04.2023 to 30.09.2023. The application also sought permission to make payment of an audit fee of Rs. 500/- plus GST to the independent 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. The application was supported by an affidavit and heard by the High Court.
Held
The Court, being satisfied with the reasons provided in the supporting affidavit and upon considering the accounts filed by the Official Liquidator, ordered as follows: a. The half-yearly accounts of the company in liquidation for the period from 01.04.2023 to 30.09.2023, along with the Auditor's Report dated 04.07.2025, were taken on record. b. Permission was accorded to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditors. c. Permission was also 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 fund was available in the Company's account, subject to reimbursement from the Company's funds upon realization of its assets. The Court did not expressly leave any issue undecided.
Key Issues
1. Whether the half-yearly accounts of the company in liquidation for the period 01.04.2023 to 30.09.2023, along with the Independent Auditors' Report dated 04.07.2025, should be taken on record. 2. Whether permission should be granted to the Official Liquidator to make payment of audit fee of Rs. 500/- plus GST to the auditors. 3. Whether permission should be granted to meet the costs of the application from the available funds of the company or the Estate and Establishment Fund, subject to reimbursement. Petitioner's Arguments: The Official Liquidator, representing the company in liquidation, argued that the accounts were duly audited and submitted, and the audit fee was a necessary expense for the proper functioning of the liquidation process. The Liquidator sought the Court's approval to proceed with these payments and record keeping. Revenue/State's Arguments: The judgment does not record any specific arguments from the revenue or state. The matter proceeded based on the Official Liquidator's application and supporting documents.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
_ [321s] IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD FRIDAY,THE THIRTY FIRST DAY OF OCTOBER TWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SMT JUSTICE T.MADHAVI DEVI COMPANY APPLICATION NO: 277 OF 2025 R.C.C.No. 6 of 2001 ln the matter of the Companies Act, 1 956 And ln the matter of M/s Garvee Granites Limited (in Liqn)
The Official Liquidator, attached to the Hon'ble High Court of Telangana, and Andhra Pradesh, .lst floor, Corporate Bhawan, Bandlaguda, Nagole, Hyderabad -500068 ...APPLICANT Application Under Section 462 of Companies 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 hatf-yearly accounts of the subject company (in liquidation) for the period from 01 .04.2023 to 30.09.2023, along with lndependent Auditors'
Report dated 04.07.2025 submitted on 08.07.2025 by M/s. Murthy and Kanth, 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 Liquidator from the ava
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