M/S.Lakshman Paper Mills Private Limited (In Liqn) vs. No Respondent
Held
The Court, after considering the supporting affidavit and hearing the counsel for the Official Liquidator, was satisfied with the reasons presented. Accordingly, the Court ordered that the half-yearly accounts of M/s Lakshman Paper Mills Private Limited (in liqn) for the period from 01.04.2023 to 30.09.2023, along with the auditor's report dated 04.07.2025, be taken on record. Permission was also granted to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditors. Furthermore, the Court permitted the Official Liquidator to meet the costs of the application from the available funds of the company in liquidation or the Establishment Fund, with the condition that these expenses would be reimbursed from the company's funds upon realization of its assets. No issues were expressly left undecided.
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 Lakshman Paper Mills Private Limited (in liqn) for the period from 01.04.2023 to 30.09.2023. The application also sought permission to pay an audit fee of Rs. 500/- plus GST to the auditors, M/s Murthy and Kanth, Chartered Accountants, for their report dated 04.07.2025. The Official Liquidator further requested permission to meet the cost of the application from the company's available funds or the Establishment Fund, subject to reimbursement upon realization of assets. The application was supported by an affidavit and heard by the High Court.
Key Issues
1. Whether the Court should take on record the half-yearly accounts of the company in liquidation for the period 01.04.2023 to 30.09.2023, as submitted by the Official Liquidator and accompanied by the auditor's report. 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 the Official Liquidator should be permitted to meet the cost of the application from the available funds of the company in liquidation or the Establishment Fund, subject to reimbursement. Contentions: Petitioner (Official Liquidator): The Official Liquidator, through his counsel, presented the half-yearly accounts and the auditor's report, seeking their formal acceptance by the Court. He also sought approval for the payment of audit fees and the costs associated with the application, citing the need to manage the liquidation process efficiently.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
t 32191 IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD FRIDAY'THE THIRTY FIRST DAY Of O-CTOBER TWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SMT JUSTICE T.MADHAVI DEVI 76 IN ln the matter of the Companies Act' 1956 ln the matter of M/s Lakshman Paper Mills Private Limited (in liqn) ;t o o 2 The Official Liquidator, attached to the Hon'ble High Corrrt of Telanqana' and Andhra Pradesh, 1st floor, corpo,"t"'E"ni"*;: '#d];jlil;' t'tagote' Hvderabad -500068 ; Application Under Section 462 of Companies Act' '1956 read with Rule 298 and Rure 306 of the companies (court) Rules 1g5g praying that this Hon',ble court may be Pleased to : i.takethehalf.yearlyaccountsofthesubjectCompany(inliquidation)for,the oeriod from 01.04.2i;;j;' go'os'zoza' along witn- lndependent Auditors' H"";;;';;i;i il'07;;;i';o'itt'o on 08'07'2025 bv M/s' Murthv and Kanth, charter"a n""-Jr-ni"it" on'recoro ,no p"?i']r.io; ,"v o" accbrded' to make tne payment Jt-a'O-iiL" of nt's001 pius GST to the said auditor' ii). cost of this application (Court fee Stamps and Notarv Charges etc'') may be permitted to'be met i'iivii"'" citrt]"iiiquioator from the available funds of the companv m riquii"'iill'i';';;i;
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