M/S.Arrow Metalspin Limited (In Liqn) vs. No Respondent
Facts
The Official Liquidator, attached to the High Court of Telangana and Andhra Pradesh, filed a Company Application (CA No. 304 of 2025) in the matter of M/s Arrow Metalspin Limited (in liquidation). The application sought to take on record the half-yearly accounts of the company for the period from October 1, 2023, to March 31, 2024, along with the Independent Auditors' Report dated July 4, 2025. Additionally, the Official Liquidator prayed for permission to pay an audit fee of Rs. 500/- plus GST to the auditors, M/s. Murthy and Kanth, Chartered Accountants. The application also requested permission to meet the costs of the application from the company's available funds or the Estate and Establishment Fund, subject to reimbursement upon realization of assets.
Held
The Court, after hearing the learned counsel for the Official Liquidator and being satisfied with the reasons stated in the supporting affidavit, ordered the Company Application. The Court took on record the half-yearly accounts of M/s Arrow Metalspin Limited (in liquidation) for the period from October 1, 2023, to March 31, 2024, along with the Auditor's Report dated July 4, 2025. Permission was accorded to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditors. Furthermore, permission was granted to the Official Liquidator to make the said payment from the available funds of the company or from the Estate and Establishment Fund, 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 M/s Arrow Metalspin Limited (in liquidation) for the period from October 1, 2023, to March 31, 2024, along with the Independent Auditors' Report dated July 4, 2025, should be taken on record. 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. Murthy and Kanth, Chartered Accountants. 3. Whether permission should be granted to the Official Liquidator to meet the costs of the application from the company's funds or the Estate and Establishment Fund, subject to reimbursement. Contentions: Petitioner (Official Liquidator): The Official Liquidator, through his counsel Sri J. Sreenath Reddy, presented the application supported by an affidavit detailing the reasons for seeking the aforementioned permissions. The arguments focused on the necessity of these steps for the proper winding up of the company and the management of its liquidation proceedings.
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 FRIDAY,THE THIRTY FIRST DAY OF OCTOBER TWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SMT JUSTICE T.MADHAVI DEVI COMPANY APPLICATION NO: 304 OF 2025 IN R.C.C.No. 7 ot 2000 ln the mafter of the Companies Act, 1956 And ln the matter of M/s Arrow Metalspin 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 : take the half-yearly accounts of the subject company (in liquidation) for the period from 01 .10.2023 lo 31 .03.2024, along with lndependent Auditors' Report dated 04.07.2025 submitted on 08.07.2025 by M/s. tt/urthy 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 aud itor. cost of this application (Court fee Stamps and Notary Charges etc.,) may be permitted to be met out by the Official Liquidator from the availab
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