M/S. Suryachalira Global Enviro Power Limited(In Liqn.) vs. No Respondent

Facts

The Official Liquidator, attached to the High Court of Telangana, filed Company Application No. 128 of 2025. The application sought permission to take on record the half-yearly accounts of M/s. Suryachakra Global Enviro Power Limited (in liquidation) for the period 01.10.2022 to 31.03.2023, along with the Auditor's Report dated 10.04.2025. Additionally, the Official Liquidator requested permission to pay an audit fee of Rs. 500/- plus GST to the auditors, M/s. Murthy and Kanth, Chartered Accountants. The application also prayed for permission to meet the costs of the application from the company's funds or the Estate and Establishment Fund, subject to reimbursement upon asset realization. The application was supported by an affidavit dated 16.07.2025.

Held

The Court took on record the half-yearly accounts of the subject company, which is in liquidation, for the period from 01.10.2022 to 31.03.2023, along with the Auditor's Report dated 10.04.2025, submitted by M/s. Murthy & Kanth, Chartered Accountants. Permission was accorded to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the Auditor. Furthermore, 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. This payment is subject to reimbursement from the funds of the Company (in liquidation) upon realization of its assets. The Court was satisfied with the reasons mentioned in the supporting affidavit and considered the half-yearly accounts filed by the Official Liquidator.

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, along with the Auditor's Report dated 10.04.2025, as submitted by the Official Liquidator. 2. Whether permission should be granted to the Official Liquidator to make payment of an audit fee of Rs. 500/- plus GST to the auditors, M/s. Murthy and Kanth, Chartered Accountants. 3. Whether permission should be accorded to the Official Liquidator to meet the costs of the application from the available funds of the company (in liquidation) or the Estate and Establishment Fund, subject to reimbursement. Contentions: Petitioner (Official Liquidator): The Official Liquidator presented the half-yearly accounts and auditor's report for record and sought permission for the payment of audit fees and application costs, as detailed in the supporting affidavit. The Official Liquidator argued that these actions are necessary for the proper winding up of the company. Revenue/State: No arguments were recorded for the Revenue or State in the judgment.