M/S.Paramount Agencies Private Limited (In Liqn.) vs. No Respondent
Original PDF →Facts
The Official Liquidator, attached to the High Court of Telangana and Andhra Pradesh, filed a Company Application No. 102 of 2026 in C.P. No. 218 of 2004 concerning M/s Paramount Agencies Private Limited (in liquidation). 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 the company for the period from 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 09.02.2026. It also requested permission to pay an audit fee of Rs. 500/- plus GST to the auditors, M/s Murthy & 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 application was to be allowed. Specifically, the Court ordered that the half-yearly accounts of the subject company in liquidation for the period from 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 09.02.2026 submitted by M/s Murthy & Kanth, Chartered Accountants, be taken on record. Permission was also 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 this payment from the available funds of the company in liquidation, or from the Estate and Establishment Fund if no funds were available in the company's account, subject to reimbursement from the company's funds upon realization of its assets. The application was allowed without costs.
Key Issues
1. Whether the Court should take on record the half-yearly accounts of the company in liquidation for the period 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 09.02.2026, as required by the Companies Act, 1956 and the Companies (Court) Rules, 1959. 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 & Kanth, Chartered Accountants. 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 Official Liquidator argued that the application was supported by the reasons stated in the affidavit and that the half-yearly accounts and auditor's report were in order. The judgment does not record any arguments from the revenue or state.
Sections Cited
Section 462, Companies Act, 1956, Rule 298, Companies (Court) Rules, 1959, Rule 306, Companies (Court) Rules, 1959
AI-generated summary — verify with the full judgment below
Cause title — parties, addresses and appearances
IN THE HIGH COURT FOR THE STATE OF TE-LANGANA ATHYDERABAD THE HON'BLE SMT.JUSTICE T. MADHAVI DEVI COMPANY APPLICATION No.102 OF 21126 IN C.P.No 218 OF 2004 DATE:06.05.2026 Between: The Official Liquidator, Attached to the Hon'ble High Court of Telangana and Andhra Pradesh, 1't Floor, Corporate Bhawan, Bandlaguda, Nagole, Hyderabad - 500068. ...Applicant ORDER This application is filed under Section 462 ot'Companies Act, 1956, read with Rules 298 and 306 of the Compe.nies (Court) Rules, 1959, seeking the following reliefs: To take the half-yearly accounts of the subject company (in liquidation) for the period from 01.04.2024 to 30.09.2024, along with Independent Auditors' Report dated 09.02.2026 submitted on 11.02.2026 by IWs. Murthy & Kanth., Chartered Accountants on record and permiss ion may be I
TMDJ COMPA_102_2026 in cP 2tEtz004 2 accorded to make the payment of audit fee of Rs.500/- plus GST to the said auditor.
Cost of this application (Court fee Stamps & Notary Charges etc.,) may be permitted to be met out by the Official Liquidator from the available funds of the company (in liquidation) or Estate and Establishment Fund account if no fund is available in the company's account; subject to reimbursement of the same from the funds of company (in liqn) upon realization of assets of the Company (in liqn) whenever so happened and To pass such other order or orders as this Hon'ble Court may deem fit and proper in this regard. 2- Heard Sri J. Sreenadh Reddy, learned counsel appearing for the Official Liquidator and perused the affidavit filed in support of this application.
Having regard to the reasons stated in the accompanying affidavit and upon considering the half-yearly accounts filed by the learned Official Liquidator, this application is allowed with the following:-
3 a The half-yearly accounts ofthe subject company, which is liquidation for the period from 01 04'2024 to 1n 30.09.2024, along with Independent Audit'ors' Report dated 09.02.2026 submitted on 11.02.20t)'6 by IWs' Murthy & Kanth., Chartered Accountants are taken on record b. Permission is accorded to the leamed Officill Liquidator to pay an audit fee of Rs.500/- plus GST to th: auditor' c. Permission is also accorded to the learned 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 fund is available in the Company's account, subject to reimbursement from the funds of Company (in liquidation) upon realization of its assets. . M.VIJAYA BHASKER JOINT REGISTRAR //// 6 To, SECTION OFFICER The official Liquidator, M/s Paramount Agencies. Prive te Limited (in Liqn) "iii"nii'i" tn" Htn orl Hish co;r#l;rangina, andAndhra Pradesh, '1st floor, d;;;;;td-B'h"*an, Banotdguoa. Nasole Hv:derabad -5000'38 in'""n"?iltr* or companieJ]iltini.l-n7 ot coiporate Affairs. (iovernment of lndia, ii+f ooi, Coiporate dhawan, f.f agot6. Bandlaguda, Thattiannarama Village. - - ^ -nrr"t-f,nioar iyandat, nanga'R"d"dy-Disirici, f"etangana State Pin Code-5000Q8 rne Reoioial Director, Sorth Eastern Region, Ministry of C')rpo.rate ATIalrs' r iiooi'-c%ipJr"t" sni*rn, Nagole, Bandlaguda, Thattiannaram Vill-agg' --^^^^ Hrratfrnaoar Mandal, Ranga heddy Distriit, Telangana State Pin Code 500068 in';3!dii;i on""ilb s SLction, riign court of Hvderabad for the state of Telanoana o;;'ic'i; Sri J.Srinarh Reddy, Advocate for officiat Liquidator, High court for the State of Telangana(OPUC) Two CD Copies 1 2 3
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t HIGH COURT DATED:06/05/2026 ORDER C.A.No.102 of 2026 IN C.P.No.218 ol 2004 ALLOWING THE COMPANY APPLICATION WITHOUT COSTS. o P toi 1r{E 5 14 0 I JUr 2026 * oF, Pl"r!aE.-I) J {.. ,.r.i l ::.-' ')7 1L e d
Reproduced from the public record of the Telangana High Court. Verify against the court's own copy before relying on it. Income tax judgments are on bharattax.net.