M/S.Ominitrode Aditya Electrodes Limited (In Prov. 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. 94 of 2026) under Section 462 of the Companies Act, 1956, read with Rules 298 and 306 of the Companies (Court) Rules, 1959. The application sought to take on record the half-yearly accounts of M/s Ominitrode Aditya Electrodes Limited (in provisional liquidation) for the period from April 1, 2024, to September 30, 2024, along with the Independent Auditors' Report dated February 9, 2026. Crucially, the application 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 half-yearly accounts of the subject company in liquidation for the period from April 1, 2024, to September 30, 2024, along with the Independent Auditors' Report dated February 9, 2026, submitted by M/s Murthy & Kanth, Chartered Accountants, should be taken on record. Permission was 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 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 valid and considered the 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 and the accompanying Independent Auditors' Report for the period April 1, 2024, to September 30, 2024. 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 costs of the application can be met from the company's funds or the Estate and Establishment Fund. The Official Liquidator argued for the approval of the accounts, the payment of audit fees, and the meeting of application costs, citing the necessity of these steps in the liquidation process. The revenue or State did not file any counter or present arguments, as recorded in the judgment.
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
a IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD THE HON'BLE SMT.JUSTICE T. MADHAVI DEVI COMPANY APPLICATION No.94 OF 2026 RCC.No.04 OF 2001 DA'IL; 06.05.2026 Between: The Olfi cial LiquidatoL, 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 tilcd under Scction 462 of Companies Act, 1956, read with Rules 198 and 306 of the Companies (Court) Rules, 1959, seeking the fbllowing reliefs To take the half-yearly accounts olthe subject company (in liquidation) fbr the period ttom 01.04.2024 to 30.09.2024, along with lndependent Auditors' Report dated 09.02.2026 submitted on 11.02.1026 by M/s. Murthy & Kanth., ) ) Chartered Accountants on record and permission may be IN I
TM I)J ('oMI'.,\ 91 2026 in accorded to make the payment of audit fee ol Rs.500/- plus II GST to the said auditor. Cost of this application (Coun lee Starnps & l,lotary Charges etc-,) may be permitted to be rnet out b.!, the Official Liquidator from the available funds of the cornpany (in iiquidation) or Estate and Establishrrenr Func accounr il' no fund is available in the company's accor.r tt; sub-iect to reirnbursement of the same frorn the tiurds ol'conrpany (in liqn) upon realization of assets of the Comnanl (in liqn) whcnever so happened and To pass such other order or orders as this Hon'ble ('t,ur1 rnav decr.lr fit and proper in this regard
Heard Sri J. Sreenadh Reddy, leamed counscl appearing fbr the Official Liquidator and perused the affidavit filcd in support ol this application.
Having regard to the reasons stated in the l:cornpanving aftrdavit and upon considering the half-yearly accounls Iiled by.the learned Olficial Liquidator, this application is allor,,ed with the fbllowing:- | ,l a TMDJ COMPA 94 -2026 in The half-yearly accounts of the subject company' which is liquidation for the period from 0l '04'2024 to a ln 30.09.2024, along with Independent Auditors' Report dated 09.02.2026 submitted 11.02.2026 bY IWs. on Murthy & Kanth., Chartered Accountants are taken on record. b. Permission is accorded to the leamed Otficial Liquidator to pay an audit fee ol Rs 500/- ptus CST to the auditor' c. Permission is also accorded to the learned Official Liquidator to make the said payment from the available funds of the Cornpany (in liquidation)' or lrom the Estate and Establishment F und account if no iund is available in the Company's account, subject to reimbursement from the funds of Company' (in liquidation) upon realization of '. K.SHYLESHI JOINT REGISTBAR To, its assets. /T// SECTION OFFICER The Official Liq attached to the uidator, Hon'ble High M/s Ominitrode AditYa Ele Cou rt of Telangana, an ndhra Prad Limited (in Prov. Liqn) esh, 1st floor,
Corporate Bhawan, Bandlagu da, Nagole, HYd erabad -500068 2 The Reg 2nd Floor istrar of ComPanles, Ministry of Corpo rate Affairs, Government of lndia' , Corpo rate Bhawan , Nagole, Bandlaguda' Thattiannarama Village' Havathnagar
Th6 Regiona Mandal, Ranga ReddY D ole, Bandlag istrict, Telangana State Pin Code-500 068 I Director, South Eastern Reg ion, Ministry of Corpo rate Affairs, a'o Floor, CorPo(ate Bhawan, Nag uda, Thattiannaram Village, Hayathnaga rMandal, Ranga ReddY District , Telang ana State Pin Code 500068
The Section Officer, O. S.Sectio n, High Court of HYd erabad for the State of 5. One CC to Sreenadh Reddy, Advocate for Official Liquidator' High Court Telangana Sri J for the State ofT 6. two CD CoPies M s/BA elangana(OPUC)
HIGH COURT DATED:06/05/2026 ORDER C.A.No.94 ot 2026 IN C.P.No.04 of 2001 :\, ( t B o I 1 0 4 JljL )if, TC$Eo zo I )ou ,9 (r'( t AL_LOWING THE COMPANY APPLICATION WITHOUT COSTS. \1 b xh \'\ Dts
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.