In The Matter Of M/S.Laran Sponge And Minerals Private .Limited (In Liqn) vs. No Respondent
Facts
The Official Liquidator, attached to the High Court of Telangana and Andhra Pradesh, filed Company Application No. 158 of 2025. The application sought to take on record the half-yearly accounts of M/s. Laran Sponge And Minerals Private Limited (in liquidation) for the period from 01.10.2023 to 31.03.2024, along with the Independent Auditor's Report dated 27.05.2025. The Official Liquidator also prayed for permission to pay an audit fee of Rs. 500/- plus GST to the auditor, M/s. Padmanabha Rao and Co., Chartered Accountants. Additionally, the application requested permission to meet the costs of the application, including court fee stamps and notary charges, from the company's available funds or the Estate and Establishment Fund, subject to reimbursement upon realization of the company's assets.
Held
The Court held that the half-yearly accounts of M/s. Laran Sponge And Minerals Private Limited (in liquidation) for the period from 01.10.2023 to 31.03.2024, along with the Auditor's Report dated 27.05.2025, 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 the said 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 was satisfied with the reasons mentioned in the supporting affidavit and considered the filed accounts.
Key Issues
1. Whether the half-yearly accounts of the company in liquidation, along with the auditor's report, should be taken on record? 2. Whether permission should be granted to pay the audit fee of Rs. 500/- plus GST to the auditor? 3. Whether the costs of the application can be met from the company's funds or the Estate and Establishment Fund, subject to reimbursement? The Official Liquidator argued that the accounts and report were duly submitted and that the payment of audit fees and application costs was necessary for the liquidation process. The revenue or State did not record any arguments in the judgment.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
[ 3168 ] IN 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. 158 ot 2025 IN COMPANY PETITION No: 215 oi 2010 ln the matter of the Companies Act, 1956 And ln the matter of M/s.Laran Sponge And Minerals Private .Limited (in liqn), The Official Liquidator, attached to the Honorable High Court of Telangana and Andhra Pradesh, 1st floor, Corporate Bhawan, Bandlaguda, Nagole, Hyderabad. ...Applicant 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 0'1 .10.2023 lo 31 .03.2024, along with lndependent Auditors' Report dated 27.05.2025 submitted on 03.06.2025 by M/s.
Padmanabha Rao and Co., Chartered Accountants on record and permission may be accorded to make the payment of aud it 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 L
The judgment continues below.
Read the full judgment
A free account opens 10 full GST judgments a month (one account works on both bharattax.net and this site). Re-reading one you have already opened does not count again.
The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.
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.