M/S.A.P.Refractories Limited (In Liqn) vs. No Respondent
Held
The Court held that the half-yearly accounts of the subject Company, which is in liquidation for the period from 01.10.2023 to 31.03.2024, along with the Auditor's Report dated 04.07.2025, submitted on 08.07.2025 by M/s. Murthy & Kanth Chartered Accountants, are to be taken on record. Permission was also 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 fund is available in the Company's account, subject to reimbursement of the same from the funds of the Company (in liquidation) upon realization of its assets. The Court was satisfied with the reasons mentioned in the supporting affidavit.
Facts
The Official Liquidator, attached to the High Court for the State of Telangana and Andhra Pradesh, filed a Company Application seeking to take on record the half-yearly accounts of M/s A.P. Refractories Limited (in liquidation) for the period from 01.10.2023 to 31.03.2024. The application also sought permission to pay an audit fee of Rs. 500/- plus GST to the independent auditors, M/s. Murthy and Kanth, Chartered Accountants, whose report was submitted on 08.07.2025. Additionally, the Official Liquidator 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.
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 Independent Auditors' Report dated 04.07.2025, should be taken on record by the Court. 2. Whether permission should be granted to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditors. 3. Whether permission should be granted to the Official Liquidator to meet the costs of the application from the available funds of the company or the Estate and Establishment Fund, subject to reimbursement. The Petitioner (Official Liquidator) argued for the approval of the accounts, the payment of audit fees, and the meeting of application costs from available funds, citing the necessity of these steps for the proper winding up of the company. The Revenue or State did not record any arguments in the judgment.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
[ 321e ] 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: 29O OF 2025 C.P.No. IN 40 of 1986 ln the matter of the Companies Act, 1956 And ln the matter of M/s A.P.Refractories Limited (in liqn)
The Official Liquidator, attached to the Hon'ble High Court of Telangana, andAndhra Pradesh, 1st fl6or, 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 to 31 .03.2024, along with lndependent Auditors' Report dated 04.07.2025 submitted on 08.072025 by tvl/s.
Murthy and Kanth, Chartered Accountants on record and permission may be accorded to make the payment of audit fee of Rs.500l plus GST to the said auditor. cost of this application (Court fee Stamps and Notary Charges etc.,) may be permitted to be met out by the Official Liquidator from the availabl
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