M/S.Nagarjuna Coated Tubes Limited (In Liqn.) vs. No Respondent
Original PDF →Facts
The Official Liquidator, attached to the High Court of Telangana, filed a Company Application (No. 82 of 2026) in the matter of M/s Nagarjuna Coated Tubes Limited (in Liquidation) (R.C.C. No. 8 of 1991). The application 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 prayed for permission to pay an audit fee of Rs. 500/- plus GST to the auditors, M/s Murthy & Kanth, Chartered Accountants. Additionally, the Official Liquidator requested permission to meet the costs of the application from the company's funds or the Estate and Establishment Fund, subject to reimbursement upon realization of assets.
Held
The Court considered the application filed by the Official Liquidator under Section 462 of the Companies Act, 1956, read with Rules 298 and 306 of the Companies (Court) Rules, 1959. Having regard to the reasons stated in the accompanying affidavit and upon considering the half-yearly accounts filed by the Official Liquidator, the Court allowed the application. Specifically, the Court ordered that the half-yearly accounts for the period 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 09.02.2026, be taken on record. Permission was also granted to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditor. Furthermore, permission was accorded to make this payment from the available funds of the company in liquidation or from the Estate and Establishment Fund, subject to reimbursement from the company's funds upon realization of its assets. The Court did not expressly leave any issue undecided.
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. 2. Whether permission should be granted to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditors. 3. Whether the Official Liquidator should be permitted to meet the costs of the application from the company's funds or the Estate and Establishment Fund, subject to reimbursement. Contentions: Petitioner (Official Liquidator): The Official Liquidator presented the half-yearly accounts and the auditors' report and sought the Court's approval for the payment of audit fees and application costs, as detailed in the affidavit filed in support of the application. The Official Liquidator relied on the provisions of the Companies Act, 1956, and the Companies (Court) Rules, 1959, for these requests. Revenue/State: No arguments were recorded for the Revenue or State in this matter.
Sections Cited
Section 462, Rule 298, 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 TELANGANA AT HYDERABAI) THE IION'BLE SMT.JUSTICE T. MADIIAVI DEVI COMPANY APPLIC ATION No.82OF 202t RCC.No.8 oF 1991 DATE:06.05.2026 I IN Between: The Offi cial Liquidator, Attached to the Hon'ble High Court of Telangana and Andhra Pradesh, t'i Fto"or, Corporate Bhawan, Bandlaguda' Nagole' Hyderabad - 500068. ..Applicant ORDER This application is hled under Section 462 of Companies Act, 1956, read with Rules 298 and 306 of the Compe'nies (Court) Rules, 1959, seeking the following reliefs: i.Totakethehalf-yearlyaccountsofthesubjectcompany(in liquidation) for the period from 01'04'2024 t<t 30'09'2024' along with Independent Auditors' Report dared 09'02'2026 submitted on 1l'02'2026 by M/s' Murthl & Kanth'' CharteredAccountantsonrecordandpermil;sionmaybe
TMDJ COMPA 62 2026 in RCC 8 l99l accorded to make the payment of audit fee of Rs'500/- plus GST to the said auditor. ii. 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; subj ect to reimbursement of the same from the funds of cornpany (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, 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 Ieamed Official Liquidator, this application is allowed with the following:- 2
a The half-yearly accounts of the subject compan)' which is liquidation for the period from 01 04 '2024 to 1n 30.09.2024, along with Independent Auditors' Report dated 09.02.2026 submitted on 11'02'2026 by M/s Murthy & Kanth., Chartered Accountants are taken on record. b.PermissionisaccordedtothelearnedofficialLiquidator to pay an audit fee of Rs.500/- plus GST to the auditor' c. Permission is also accorded to the leame d Official Liquidator to make the said payment from the available funds of the Company (in liquidation)' or fronr the Estate and Establishment Fund account if no fund is available in the Company's account, subject to reimburs(rment from the funds of Company (in tiquidation) upon re alization of its assets \ //// . M.VIJAYA BHASKER JOINT REGISTRAR SECTION OFFICER To, 1 2 The Official Liquidator, M/s Nagarjuna Coated Tubes Limited (ln Liqn) attached to the Hon'ble High Court of Telangana, and Andhra Pradesh, 1st floor, Corporate Bhawan, Bandlaguda, Nagole, Hyderabad -500068 The Registrar of Companies, Ministry of Corporate Affairs, Government of lndia, 2no Floor, Corporate Bhawan, Nagole, Bandlaguda, I hattiannarama Village, Hayathnagar Mandal, Ranga Reddy District, Telanl;ana State Pin Code-500068 The Regional Director. South Eastern Region, Ministry of Corporate Affairs, 3'o Flooi, Corporate Bhawan. Nagole, Bandlaguda, Thattiarrnaram Village. Hayathnagar Mandal, Ranga Reddy District, Telangana Stzrte Pin Code 500068 The Section Officer, O.S.Section, High Court of Hyderabad for the State of Telangana One CC to Sri J.Srinath Reddy, Advocate for Official Liquiclator, High Court for the State of Telangana(OPUC) Two CD Copies 3 4 D5 A / J HIGH COURT DATED:06/05/2026 ORDER C.A.No.82 ot 2026 IN R.C.C.No.8 of 1991 ALLOWING THE COMPANY APPLICATION WITHOUT COSTS. it Sr4tt Pr..TAL, ),(: I,zo ! JUr 2026 b6h-t 1 { t
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.