In The Matter Of M/S. Roofers Associates Limited(In Liqn) vs. Nil
Facts
The Official Liquidator of M/s. Roofers Associates Limited (in liquidation) filed a Company Application seeking permission to take on record the half-yearly accounts for the period 01.10.2022 to 31.03.2023, along with the Auditor's Report dated 10.04.2025 submitted by M/s. Murthy and Kanth, Chartered Accountants. The application also prayed for permission to pay an audit fee of Rs. 500/- plus GST to the auditor and to meet the costs of the application from the company's funds or the Estate and Establishment Fund, subject to reimbursement. The application was supported by an affidavit from the Official Liquidator and argued by his counsel. The Court considered the half-yearly accounts and the auditor's report.
Held
The Court held that the half-yearly accounts of M/s. Roofers Associates Limited (in liquidation) for the period 01.10.2022 to 31.03.2023, along with the Auditor's Report dated 10.04.2025 submitted by M/s. Murthy and Kanth, Chartered Accountants, should be taken on record. The Court was satisfied with the reasons provided in the supporting affidavit and the consideration of the accounts. Consequently, permission was granted to the Official Liquidator to pay the audit fee of Rs. 500/- plus GST to the auditor. Furthermore, the Court permitted the Official Liquidator to make this payment from the available funds of the company in liquidation, or from the Estate and Establishment Fund if the company's account was insufficient, with the condition that such expenses would be reimbursed upon the realization of the company's assets. The Court did not expressly leave any issue undecided.
Key Issues
1. Whether the half-yearly accounts of the company in liquidation for the period 01.10.2022 to 31.03.2023, along with the Auditor's Report dated 10.04.2025, should be taken on record. The Official Liquidator argued for taking the accounts and report on record to facilitate the liquidation process. The revenue or State did not present any arguments on this issue as recorded in the judgment. 2. Whether permission should be granted to the Official Liquidator to pay an audit fee of Rs. 500/- plus GST to the auditor. The Official Liquidator contended that this payment is necessary for the professional services rendered by the auditor in examining the company's accounts. The revenue or State did not present any arguments on this issue as recorded in the judgment. 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. The Official Liquidator argued that these expenses are incidental to the liquidation process and should be borne by the company's estate. The revenue or State did not present any arguments on this issue as recorded in the judgment.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
t 3168 I IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD THUR AY. THE SEVENTH DAY OF AUGUST TWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE K.LAKSHMAN COMPANY APPLICATION No. '132 of 2025 IN COMPANY PETITION NO: 59 of 1996 ln the matter of the Companies Act, 1956 And ln the matter of M/s. Roofers Associates Limited(in liqn), The Official Liquidator, attached to the Honourable High Court of Telangana. and Andhra Pradesh, 1st floor, Corporate Bhawan, Bandlaguda, Nagole, Hyderabad - 500068 ...Appl ica nt Application under Section 462 of the Companies Act, 1956 read with Rule 298 and Rule 306 of the Companies (Court) Rules, 1959 praying that this Court may be pleased to: i) take the half-yearly accounts of the subject company (in liquidation) for the period from 01.10.2022 to 31 .03.2023, along with Auditor Report dated 10.04.2025 submitted on 05.06.2025 by M/s. Murthy and Kanth, Chartered Accountants on record and permission may be accorded to make the payment of audit fee of Rs.500/- plus GST to the said auditor. cost of this application (Court fee Stamps and Notary Charges etc.,) may be permitted to be met out by the Official Liquidator from the available
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