M/S.Rama Krishna Equity Funds 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 (CA) No. 89 of 2026 in Company Petition (CP) No. 52 of 1997. The application sought permission to take on record the half-yearly accounts of M/s. Rama Krishna Equity Funds Limited (in liquidation) for the period from 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 09.02.2026. Crucially, the Official Liquidator also sought permission to pay an audit fee of Rs. 500/- plus GST to the auditors, M/s. Murthy & Kanth, Chartered Accountants. The application further requested permission to meet the costs of the application from the company's funds or the Estate and Establishment Fund, subject to reimbursement.
Held
The Court decided to allow the application. Firstly, it ordered that the half-yearly accounts of the subject company, which is 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. Secondly, the Court accorded permission to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditor. Thirdly, 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 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 the reasons stated in the accompanying affidavit to be sufficient 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 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 09.02.2026, as submitted by the Official Liquidator. The Official Liquidator, as the applicant, contended that these documents were prepared and submitted in accordance with the relevant rules and sought their formal acceptance by the Court. 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. The applicant argued that this fee was for professional services rendered and was a necessary expense in the liquidation process. The revenue or State did not appear to have made any specific arguments as the matter pertains to the internal administration of a company in liquidation.
Sections Cited
Section 462, Rule 293, Rule 306
AI-generated summary — verify with the full judgment below
Cause title — parties, addresses and appearances
IN THE HIGH COURT FOR THE STATE OF TE]-ANGANA AT HYDERABAD THE HON'BLE SMT.JUSTICE T. MADHAV] DEVI COMPANY APPLICATION No.89 OF 2026 COMPANY PE-TITIO N No.52 OF 1997 DATE:06.05.2026 Between: The Official Liquidator, Attached to the Hon'ble High Court of Telangana and Andhra Pradesh, 1" Floor, Corporate Bhawan, Bandlaguda, Nagole, Hyderabad - 500068. .Applicant ORDER This application is filed under Section 462 ol Companies Act, 1956, read with Rules 293 and 306 of the Comprinies (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 t<t 30-09.2024, along with Independent Auditors' Report dated 09.02.2026 submitted on 11.02.2026 by M/s. Murthy & Kanth., Chartered Accountants on record and permis sion may be IN I COMPA_89 2026 in cP 52 1997
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 avaiiable in the company's account; subject to reimbursement of the same from the funds of company (in iiqn) 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.
Heard Sri J. Sreenadh Reddy, leamed 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:-
G C()NIPA 89 2026 in cP 52 199',7 a. The half-yearly accounts of the subject company, which is ln liquidation for the period from 01 .04.2024 to 30.09.2024, along with Independent Audrtors' Report dated 09.02.2026 submitted on 11.02.2026 by M/s. Murthy & Kanth., Chartered Accountants rre taken on record. b. Permission is accorded to the leamed Official 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 frc,m the Estate and Establishment Fu,rd account if no fund il; available in the Company's account, subject to reimbursement from the funds of Company (in liquidation) upon lealization of lts assets. M VIJAYA BHASKER JOINT REGISTRAR //// it i t 'itECTION OFFICER To, 2 The Official Liquidator, M/s.Rama Krishna Equity Funds Limited (ln.Liqn )' OtfL" "t-ilt tro'or. Corporate Bhawan Bandlaguda..Nagole, Hyderabad . ihe Reoistrar of Companies, Ministry of Corporate AffErlrs, Governmenl or r "a]"'7; -rr""i Corobrate Bhawan, -Naqole Band la g uda, Thattiannaram vilrsi"- u jvr'tn nrga i Mintat Ranga Reiddy District' Tr:langana State Pin Code-500068. \
3 The Reqional Director, South Eastern Region, Ministry of Corporate Affairs, 3'd Flooi. Corporate Bhawan, Nagole, Bandlaguda, Thattiannaram _Village, Hayathnagar'l\/andal, Ranga Reddy District, Telangana State Pin Code 500068 The Section Officer, O S.Section, High Court of Hyderabad for the State of Telangana One CC to Sri J.sreenath Reddy, Advocate for Official Liquidator, High Court '-for the State of Telangana(OPUC) Two CD Copies 4 5 6 TPK /ABK f{-
HIGH COURT DATED: 0610512026 ORDER COMPA.No.89 of 2026 IN C.P.No.52 of 1997 =_-:--=.-.\\ rHE sr4E\, -^.'.,), oB t o U 0 (' it]t 2026 as",Tc trEo _----2 r\+ \\.() , ,rr, o I a\t.k t ORDERING THE COMPANY APPLICATION 4 o.5exk-. i i
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.