M/S.Sri Laxmi Saraswathi Papers Limited (In Liqn) vs. No Respondent
Facts
The Official Liquidator, attached to the High Court for the State of Telangana, filed a Company Application seeking permission to take on record the half-yearly accounts of M/s. Sri Laxmi Saraswathi Papers 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. KBS and Associates, Chartered Accountants, and to allow the cost of the application to be met from the company's funds or the Estate and Establishment Fund, subject to reimbursement. The application was supported by an affidavit and heard by the High Court.
Held
The Court, having satisfied with the reasons mentioned in the supporting affidavit and upon considering the half-yearly accounts filed by the Official Liquidator, ordered as follows: a) The half-yearly accounts of the subject Company (in liquidation) for the period from 01.10.2023 to 31.03.2024, along with the Auditor's Report dated 31.05.2025 submitted by M/s. KBS & Associates, Chartered Accountants, are taken on record. b) Permission is accorded to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the Auditor. c) Permission is also accorded 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 from the funds of the Company (in liquidation) upon realization of its assets. The Court did not expressly leave any issues undecided.
Key Issues
1. Whether the Court should take on record the half-yearly accounts of the company in liquidation for the period 01/10/2023 to 31/03/2024, along with the Independent Auditor's Report dated 31/05/2025. 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 the cost of the application should be permitted to be met from the available funds of the company in liquidation or the Estate and Establishment Fund, subject to reimbursement. Petitioner's Arguments: The Official Liquidator, through their counsel, presented the half-yearly accounts and auditor's report, and requested permission for the payment of audit fees and application costs, citing the necessity for these actions in the liquidation process. Revenue/State's Arguments: The judgment does not record any specific arguments from the revenue or state. The proceedings appear to be administrative in nature concerning the liquidation of a company.
Sections Cited
GST
AI-generated summary — verify with the full judgment below
The official Liouidator, attached to the Hon'ble High court of Telangana, and An^dhra irio;;'il'lli- ib;;, torpoiate Bhawan, Bandlaguda, Nagole, Hvderabad--500068 ...APPLICANT Company Application Under Section 462 of the Companies Act' 1956 read with Rule 298 a;d Rule 306 of the Companies(Court)Rules, 1959 .praying that this Hon'ble Court may be Pleased to IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD MONDAY,THE TWENTY SECOND DAY OF SEPTEMBER TWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRt JUSTICE K.LAKSHMAN COMPANYAPPLICA TroN NO. 196 0F 2025 R.C.C NO: 14 OF 1999 ln the mafter of M/s.Sri Laxmi Saraswathi Papers Limited (in liqn)'
Between: i. take the half-yearly accounts of the subject company (in liquidation). for the period from bt/to/2023 to 311O3t2024, along with lndependent Audiiors, Report dated 31to5t2o25 submitted on 09/06/2025 by Mis. KBS and Associates, Chartered Accountants on record and permission miy oe 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 mei out by the official Liquidator from the available funds of the
The judgment continues below.
Read the full judgment
A free account opens 10 full GST judgments a month (one account works on both bharattax.net and this site). Re-reading one you have already opened does not count again.
The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.
Reproduced from the public record of the Telangana High Court. Verify against the court's own copy before relying on it. Income tax judgments are on bharattax.net.