M/S. Cheminnova Remedies Private Limited 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 Cheminnova Remedies Private Limited (in liquidation) for the period from April 1, 2023, to September 30, 2023. The application also requested 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 July 8, 2025. The Official Liquidator further sought 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 the company's assets. The application was supported by an affidavit and heard by the High Court.
Held
The Court held that the half-yearly accounts of M/s Cheminnova Remedies Private Limited (in liquidation) for the period from 01.04.2023 to 30.09.2023, along with the Independent Auditors' Report dated 04.07.2025, should be taken on record. The Court also granted permission to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditors. Furthermore, permission was accorded to the Official Liquidator to make this payment from the available funds of the company in liquidation, or from the Estate and Establishment Fund if company funds were insufficient, with the condition that such payments would be reimbursed from the company's assets upon realization. The Court was satisfied with the reasons presented in the supporting affidavit and the submitted accounts.
Key Issues
1. Whether 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, should be taken on record? The petitioner, the Official Liquidator, argued that the application was filed in compliance with the Companies Act, 1956, and the Companies (Court) Rules, 1959, and that the accounts and auditor's report were duly submitted. The revenue or State did not present any arguments as this was a procedural application by the Official Liquidator before the High Court concerning the winding up of a company.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
[ 3168 J 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 SRI JUSTICE K.LAKSHMAN COMPANY APPLICATION NO: 19I OF 2025 IN C.P.No. 21 ot 2014 ln the matter of the Companies Act, 1956 And ln the mafter of M/s Cheminnova Remedies Private Limited (in liqn)
The Official Liquidator, aftached to the Hon'ble High Court of Telangana, and Andhra Pradesh, 1st floor, 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 subiect company (in liquidation) for the period from 01.04.2023 to 30.09.2023, along with lndependent Auditors'
Report dated 04.07.2025 submifted on 08.07.2025 by M/s. Murthy and Kanth, Chartered Accountants on record and permission may be accorded to make the payment of audit fee of Rs.500/- 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 av
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