The Official Liquidator vs. No Respondent
Facts
The Official Liquidator, attached to the High Court of Telangana and Andhra Pradesh, filed a Company Application No. 95 of 2025. The application sought permission to take on record the half-yearly accounts of M/s. Monarch Finlease Limited (in liquidation) for the period from April 1, 2023, to September 30, 2023. It also requested permission to pay an audit fee of Rs. 500/- plus GST to the independent auditors, M/s. Padmanabha Rao and Co., Chartered Accountants. The Official Liquidator further prayed for permission to meet the costs of the application from the company's available funds or the Estate and Establishment Fund, subject to reimbursement upon realization of assets.
Held
The Court, having satisfied with the reasons mentioned in the supporting affidavit and upon considering the half-yearly accounts filed by the learned Official Liquidator, ordered the application. Specifically, the Court took on record the half-yearly accounts of M/s. Monarch Finlease Limited (in liquidation) for the period from 01.04.2023 to 30.09.2023, along with the Independent Auditor's Report dated 27.05.2025. 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 funds of the Company (in liquidation) upon realization of its assets. The Court did not expressly leave any issue undecided.
Key Issues
1. Whether permission should be granted to take on record the half-yearly accounts of the company in liquidation for the period from 01.04.2023 to 30.09.2023, along with the Independent Auditors' Report dated 27.05.2025. 2. Whether permission should be accorded to make the payment of audit fee of Rs. 500/- plus GST to the auditor. 3. Whether permission should be granted to meet the costs of the application from the available funds of the company (in liquidation) or the Estate and Establishment Fund account, subject to reimbursement. The Petitioner (Official Liquidator) argued that the application was supported by a duly filed affidavit and that the accounts and auditor's report were in order. The Petitioner sought the Court's approval for the payment of audit fees and application costs. The judgment records no specific arguments from the Revenue or State, as this was an application by the Official Liquidator for administrative and financial approvals concerning a company in liquidation.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
[ 3158 ] IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD WEDNE AY, THE SIXTH DAY OF AUGUST TWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE K.LAKSHMAN COMPANY APPLICATION No. 95 of 2025 IN co ANY PETITION No: 173 of 2001 ln the matter of the Companies Act, 1956 And ln the matter of M/s. Monarch Finlease 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 ...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 haltyearly accounts of the subject company (in liquidation) for the period kom 01104.12023 to 30109.12023, along with lndependent Auditors' Report dated 2710512025 submitted on 03/06/2025 by tvl/s.
Padmanabha Rao and Co., 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 t
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.