M/S. Suchitra Tele Tubes Limited(In Liqn) vs. No Respondent
Facts
The Official Liquidator, attached to the High Court of Telangana and Andhra Pradesh, filed a Company Application (CA No. 139 of 2025) under Section 462 of the Companies Act, 1956, and 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. Suchitra Tele Tubes Limited (in liquidation) for the period from 01.10.2022 to 31.03.2023, along with the Auditor's Report dated 10.04.2025. The Official Liquidator also prayed for permission to pay an audit fee of Rs. 500/- plus GST to the 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 held that the half-yearly accounts of M/s. Suchitra Tele Tubes Limited (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 and Kanth, Chartered Accountants, should be taken on record. The Court also accorded permission to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditors. Furthermore, permission was granted 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 funds upon realization of its assets. The Court was satisfied with the reasons presented in the supporting affidavit and the submitted accounts.
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. The petitioner's contention, as presented by the Official Liquidator, is that these accounts and the report are in order and require the Court's formal acceptance. The revenue or State did not present any arguments in this matter. 2. Whether permission should be granted to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditors, M/s. Murthy and Kanth, Chartered Accountants. The petitioner's argument is that this payment is necessary for the professional services rendered by the auditors in examining the company's accounts. No arguments were recorded from the revenue or State side. 3. Whether the Official Liquidator should be permitted 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. The petitioner's stance is that these expenses are incidental to the liquidation process and should be allowed to be disbursed from available funds.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
[ 3168 I 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 APPLICATION No. 139 ot 2O25 IN R.C.C. No. 2 of '1996 & COMPANY PETITION No.36 of 1990 ln the matter of the Companies Act, 1956 And ln the matter of M/s. Suchitra Tele Tubes Limited(in liqn), -The Offrcial Liquidator, attached to the Honourable High Court of Telangana, and Andhra Pradesh, 1st floor, Corporate Bhawan, Bandlaguda, Nagole, HyEerabad - 500068. ...Applicant Application under Section 462 of the 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 0111012022 lo 3110312023, along with Auditor Report dated 1010412025 submitted on 05106/2025 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 Liquidat
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