M/S.Sunrise Oleo Chemicals Limited (In Liqn.) vs. No Respondent
Original PDF →Facts
The Official Liquidator, attached to the High Court of Telangana and Andhra Pradesh, filed Company Application No. 48 of 2026 in Company Petition No. 67 of 1999. The application sought to take on record the half-yearly accounts of M/s. Sunrise Oleo Chemicals Limited (in liquidation) for the period from April 1, 2024, to September 30, 2024. It also requested permission to pay an audit fee of Rs. 500/- plus GST to the auditors, M/s. Padmanabha Rao & Co., Chartered Accountants. Furthermore, the Official Liquidator sought permission to meet the costs of the application, such as court fee stamps and notary charges, from the company's available funds or the Estate and Establishment Fund, subject to reimbursement upon realization of company assets. The application was supported by an affidavit and heard by the High Court.
Held
The Court held that the application should be allowed. It directed that the half-yearly accounts of the subject company, M/s. Sunrise Oleo Chemicals Limited (in liquidation), for the period from 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 27.01.2026, 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. Additionally, the Court permitted the Official Liquidator to make the payment for the application costs 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 reasoning was based on the reasons stated in the accompanying affidavit and consideration of the filed accounts.
Key Issues
1. Whether the half-yearly accounts of the company in liquidation for the period from 01.04.2024 to 30.09.2024, along with the Independent Auditors' Report dated 27.01.2026, should be taken on record. 2. Whether permission should be granted to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditor. 3. Whether permission should be granted to the Official Liquidator to meet the costs of the application from available funds, subject to reimbursement. The petitioner, the Official Liquidator, argued for the acceptance of the accounts and the payment of fees and costs as stated in the application. The revenue or State did not file any counter or present any arguments in this matter, as recorded in the judgment.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
Cause title — parties, addresses and appearances
/i IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD THE HON'BLE SMT.JUSTICE T. MADHA\'I DEVI COMPANY APPLICATION No.48 of 2026 COMPANY PETITION No.67 of 1999 DATE: 06.05.2026 Betwecn: The Official Liquidator, attachcd to the Hon'ble High Court of Telangana and Andhra Pradesh, I" Floor, Corporate Bhawan, Bandlaguda, Nagole, [{yderabad 500068. Applicant ORDER This application is filed under Section 462 ol Companir's Act, 1956, read with Rules 298 and 306 of lhe Cornpanies (Clourt) Rutes, 1959, seeking the following reliefs: To take the half-yearly accounts of thc subject company (in liquidation) for the period from 01.04.2024 to i0.09.2024, along with Independent Auditors' Report dated 2.7.01.2026 submitted on 30.01.2026 by M/s. Padmanabha Rao & Co., IN Chartered Accountants on record and permission may be \ COMPA 4E 2026 in cP 67 1999 accorded to make the payment of audit fee of Rs.500/- plus (iST to the said audiror. ii. C'ost of this application (Court fee Stamps & Notary Charges ctc.,) may be perrnittcd to be met out by the Official I-iquidator frorn the available funds of tte company (in liquidation) or Estate and Establishment Furrd account it' no Iund is available in the company's account; subjecl to rcimbursernent ot' tltc same from the funds ol company (in liqn) upon rcalization of assets of the Cornpanl, (in liqn) vl'henever so happened and To pass such other order'or orders as this Hon'ble Court mav decrn fit and proper in this regard.
Hcard Sri J. Sreenadh Reddy, leamed counsel appearing for the Offlcial Liquidator and perused the affidavit file d in support ol' this application.
Having regard to the reasons stated in the accompanying al-fldavit and upon considering the half-yearly accounts filed by the learned Official Liquidator, this application is all,rwed with the lo I low ing:- // COMI)A 48 2026 in cP 61 1999 a The half-yearly accounts ofthe subject company, which is tn liquidation for the period from 01.04.2024 to 30.09.2024, along with Independent Auditors' Report dated 27.01.2026 submitted on 30.01.2026 by M/s.Padmanabha Rao & Co., Chartered Accountants arc taken on record b. Permission is accorded to the learned Olficial Liquidator to pay an audit fee of Rs.500/- plus GST to the auditor. c. Permission is also accorded to the leamed Otllcial Liquidator to make the said payment f,rom the available funds of the Company (in liquidation), or from the Estate and Establishment Fund account if no lund is available in the Company's account, subject to reimbursement lioltl the funds of Company (in liquidation) upon realization ol- rts assets. //// K.SHYLESHI JOINT REGISTRAR SECTION OFFICER
The Official Liquidator, Mis. sunrise oleo chemicals Limited(ln Liqn.) office at 1st floor, Corporate Bhawan, Bandlaguda, Nagole, Hyderabad -500068
The Registrar of Companies, Ministry of Corporate Affairs, Government of lndia 2nd floor Corporate Bhawan' Nagole, Bandlaguda, Thattiannaram Village Hayathnagar Mandal, Ranga Reddy District, Telangana State Pin Code 500 680. To, I
I 3 The Regional Director South Eastern Region, Ministry of Corporate Affairs.3'r ftoor CorDorare ?hiYar, r.rrgoi"]t-a;otr7ror, Thattiannaram Village Hayathnaqar t\rtandat, Rr;g";i"ddyff;iitct retangana State, pin code500 680- ;;;itj;dil;fii"rffi+:e"n]H1ilff,sil / ffi.:r"""j::" ofiicer, o s Section, Hish Court at Hyderabad, for the State of :i:,!:,.ji*l J Sreenadh Reddv, counset for officiat Liquidator, High court Two CD Copies 4 5 M VSM/BA
HIGH COURT DATED: 0610512026 ORDER \ COMPA.No.48 of 2026 IN C.P. No.67/1999 ALLOWING THE APPLICATION 3 o4JULZoffi 'z t o A h a srA rc*ct1 Ia o ( \ tsp.r I L 2h g E H 1 a 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.