M/S. Sri Vishnu Priya Industries Limited(In Liqn) vs. No Respondent
Facts
The Official Liquidator, attached to the High Court for the State of Telangana and Andhra Pradesh, filed a Company Application (CA No. 149 of 2025) under Section 462 of the Companies Act, 1956, read with Rules 298 and 306 of the Companies (Court) Rules, 1959. The application sought permission to take on record the half-yearly accounts of M/s. Sri Vishnu Priya Industries Limited (in liquidation) for the period from 01.10.2022 to 31.03.2023, along with the Auditor's Report dated 10.04.2025. It also prayed for permission to pay an audit fee of Rs. 500/- plus GST to the auditor, M/s. Murthy and Kanth, Chartered Accountants, and to meet the application costs from the company's funds or the Estate and Establishment Fund account, subject to reimbursement.
Held
The Court, having perused the Judge's summons and the supporting affidavit filed by the Official Liquidator, and having heard the arguments of the counsel for the Official Liquidator, was satisfied with the reasons presented. The Court ordered as follows: (a) The half-yearly accounts of M/s. Sri Vishnu Priya Industries Limited (in liquidation) for the period from 01.10.2022 to 31.03.2023, along with the Auditor's Report dated 10.04.2025, 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 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 company's funds upon realization of its assets. The Court found no issues with the procedural compliance and the substance of the application.
Key Issues
1. Whether the Court should take on record the half-yearly accounts of the company in liquidation for the period 01.10.2022 to 31.03.2023 and the accompanying Auditor's Report dated 10.04.2025. 2. Whether permission should be granted to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditor. 3. Whether the Official Liquidator should be permitted to meet the costs of the application from the available funds of the company or the Estate and Establishment Fund account, subject to reimbursement. Contentions: Petitioner (Official Liquidator): Submitted the half-yearly accounts and auditor's report, and sought permission for the payment of audit fees and application costs as per the Companies Act and Rules. The supporting affidavit provided the necessary reasons for the application. Revenue/State: No arguments were recorded for the Revenue or State in the judgment.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
[ 3168 ] IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD THUR AY, THE SEVENTH DAY OF AUGUST TWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE K.LAKSHMAN COMPANY APPLIGATION NO. 't49 of 2025 IN COMPANY PETITION NO: 168 of 2002 ln the matter of the Companies Act, 1956 And ln the matter of M/s. Sri Vishnu Priya lndustries Limited (in liqn)
The Official Liquidator, attached 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 lhe Companies Act, 1956 read with Rule 298 and Rule 306 of the Companies (Court) Rules, 1959 praying that this Court may be pleased to: i) take the half-yearly accounts of the subject company (in liquidation) for the period from 0'1 .10.2022 to 31 .03.2023, along with Auditor Report dated 10.04.2025 submitted on 05.06.2025 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 ava
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