In The Matter Of M/S.Kera Sinters Limited (In Liqn) vs. No Respondent
Facts
The Official Liquidator, attached to the High Court of Telangana and Andhra Pradesh, filed a Company Application seeking permission to take on record the half-yearly accounts of a company in liquidation for the period from April 1, 2023, to September 30, 2023. The application also sought permission to make a payment of Rs. 500/- plus GST towards the audit fee for the Independent Auditors' Report submitted by M/s. Murthy and Kanth, Chartered Accountants. Furthermore, 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 company assets.
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 the application. The Court took on record the half-yearly accounts of the company in liquidation for the period from 01.04.2023 to 30.09.2023, along with the Auditor's Report dated 04.07.2025 submitted by M/s. Murthy and Kanth, Chartered Accountants. Permission was accorded to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditor. Additionally, 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 funds were 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 issue undecided.
Key Issues
1. Whether the Court should take on record the half-yearly accounts of the company in liquidation for the period from 01.04.2023 to 30.09.2023, along with the Independent Auditors' Report dated 04.07.2025. 2. Whether permission should be accorded to make the payment of audit fee of Rs. 500/- plus GST to the auditors. 3. Whether the cost of the application should be permitted to be met out by the Official Liquidator from the available funds of the company (in liquidation) or the Estate and Establishment Fund account, subject to reimbursement. Contentions: Petitioner (Official Liquidator): The Official Liquidator argued that the application was supported by an affidavit and that the half-yearly accounts and auditor's report were duly submitted. The Official Liquidator sought the Court's approval for these actions to facilitate the liquidation process.
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 FtrDERABAD MONDAYJ-IJ^E IJ4{ENry SEcoND DAy OF SEPTEMBER . TWO THOUSAND AND TWENW FIVE PRESENT THE HONOURABLE SRI JUSTICE K.LAKSHMAN R.C.C. NO. I OF 1992 Between: This application coming on for orders, upon reading the Judge's summons and the affidavit dated 06.08.2025 filed by Sri Uttam Kumar Sahoo, fficiat Liquidator attached to the High Court for the State of Telangana, in support of the Company Application and upon hearing the arguments of Sri J.sreenadh Reddy, Advocate for the Official Liquidator/Applicant. I'N The Official Liouidator, attacted to the Hon'ble High Court of Telangana, and Andhra Pradesh, 1st fldor, corporite eha*"i,-elhti;g-r,i;:idg"re, l.tyderabad -s00068. ..APPLICANT - Com_p_any Application Under Section 462 ol the Companies Act, 1956 read with Rule 298 and Rute 306 of the Companies ( Court )"Rules, 1g5g praying that this Hon'ble Court may be pleased to i). take the hatf-yealy q9c9u1!s of the subject company (in tiquidation) for the period from 01 .04.2023 to 30.09.2023, along with lndependeni Auditors' Report dated 04'07.2025 submitted on 08.07.2025 bt M/s: Murthy and Kanth, bhartered, Accountants on r99or! an
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