M/S. Enso Secutrack Limited(In Liqn) vs. No Respondent

Facts

The Official Liquidator, attached to the High Court for the State of Telangana, filed Company Application No. 250 of 2025 in C.P. No. 207 of 2011. The application, filed under Section 462 of the Companies Act, 1956, and Rules 298 and 306 of the Companies (Court) Rules, 1959, sought permission to take on record the half-yearly accounts of M/s Enso Secutrack Limited (in liquidation) for the period from April 1, 2023, to September 30, 2023. It also requested permission to pay an audit fee of Rs. 500/- plus GST to the independent auditors, M/s. Murthy and Kanth, Chartered Accountants, and to meet the costs of the application from the company's funds or the Estate and Establishment Fund, subject to reimbursement.

Held

The Court, having been satisfied with the reasons stated in the supporting affidavit and having considered the half-yearly accounts filed by the Official Liquidator, ordered as follows: a) The half-yearly accounts of M/s Enso Secutrack Limited (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, were taken on record. b) Permission was accorded to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditor. c) Permission was also 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 found the requests to be reasonable and necessary for the liquidation proceedings.

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 granted to the Official Liquidator to make the payment of audit fee of Rs. 500/- plus GST to the auditors. 3. Whether permission should be granted to meet the costs of the application 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, through his counsel, presented the half-yearly accounts and the auditor's report, seeking the Court's approval to take them on record. He also prayed for permission to pay the audit fee and associated costs, citing the necessity of these expenses for the proper functioning of the liquidation process. The supporting affidavit outlined the reasons for these requests. Revenue/State: No specific arguments were recorded for the Revenue or State in the provided judgment.