M/S.Coduras Exports Limited (In Liqn) vs. No Respondent
Facts
This matter concerns a Company Application filed by the Official Liquidator, attached to the High Court for the State of Telangana, in the matter of M/s Coduras Exports Limited (in liquidation). The application, filed under Section 462 of the Companies Act, 1956, read with Rules 298 and 306 of the Companies (Court) Rules, 1959, sought permission to take on record the half-yearly accounts of the company for the period 01.10.2023 to 31.03.2024, along with the independent Auditors' Report dated 04.07.2025. Additionally, the Official Liquidator sought permission to make payment of audit fees of Rs. 500/- plus GST to the auditors and to meet the costs of the application from the company's funds or the Estate and Establishment Fund.
Held
The Court, being satisfied with the reasons presented in the supporting affidavit and having considered the half-yearly accounts, ordered the Company Application. The Court took on record the half-yearly accounts of M/s Coduras Exports Limited (in liquidation) for the period 01.10.2023 to 31.03.2024, along with the Auditor's Report dated 04.07.2025, submitted by M/s. Murthy & Kanth, Chartered Accountants. Permission was accorded to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditor. Furthermore, the Court granted permission for 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 company funds were unavailable, subject to reimbursement upon realization of the company's assets. The Court also permitted the costs of the application to be met from the company's funds or the Estate and Establishment Fund, with similar reimbursement conditions.
Key Issues
1. Whether the half-yearly accounts of the company in liquidation for the period 01.10.2023 to 31.03.2024, along with the Auditor's Report dated 04.07.2025, should be taken on record. The Official Liquidator argued for this, presenting the accounts and report for the Court's consideration. 2. Whether permission should be granted to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditors. The Official Liquidator contended that this payment was necessary for the audit of the company's accounts. 3. Whether the Official Liquidator should be permitted to meet the costs of the application from the company's funds or the Estate and Establishment Fund. The Official Liquidator sought this permission to cover court fees and notary charges, with a provision for reimbursement upon asset realization. The revenue or State did not present any arguments in this matter.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
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 APPLTCATTON NO: 307 OF 2025 IN C.P.No.I70 of 1998 ln the matter of the Companies Act, 1956 And ln the matter of M/s coduras Exports Limited (in.Liqn)
The.Official Liquidator, attached to the Hon'ble High Court of Telangana, and Andhra Pradesh, 1st floor, corporate Bhawan, Bandragudi, ttjgoie, Hvoerioao'-dij0d6's ...APPLICANT Application Under Section 462 of Companies Act, 1g56 reaQ with Rule 29g 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 from 01.10.2023 to 31 .03.2024, a[ong witn inoependent Auditors' Report dated o4.oz.2o2s subrnitted on ba.oz.z025 by M/s Murthy & Kanth, Chartered Accountants on record and permission may be accorded.to make the payment of audit fee of Rs.sobl- ptus ost to the said auditor. ii. cost of this apprication (court fee stamps and Notary charges etc.,) may be permitted to be met out by the Official Liquidator frorn-tne available
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