In The Matter Of M/S.Pch Retail Limited. (In Liqn.) vs. No Respondent
Facts
The Official Liquidator, attached to the High Court for the State of Telangana and Andhra Pradesh, filed a Company Application (CA No. 23 of 2025) in Company Petition No. 80 of 2014. The application, filed under Section 462 of the Companies Act, 1956, and Rules 298 and 306 of the Companies (Court) Rules, 1959, sought to take on record the half-yearly accounts of M/s PCH Retail Limited (in liquidation) for the period 01.10.2022 to 31.03.2023, along with the Auditors' Report dated 01.11.2024 submitted by M/s KBS and Associates. The Official Liquidator also sought permission to pay the 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. The application was supported by an affidavit and argued by the Official Liquidator's counsel.
Held
The Court accepted the prayer made by the Official Liquidator. The half-yearly accounts of M/s PCH Retail Limited (in liquidation) for the period 01.10.2022 to 31.03.2023, along with the Auditors' Report dated 01.11.2024 submitted by M/s KBS and Associates, were taken on file. The Court perused the Auditors' Report with the assistance of the Official Liquidator's counsel. The application was ordered accordingly. The specific issue regarding the payment of audit fee and application costs was implicitly granted by the overall acceptance of the application, which included these prayers. No issue was expressly left undecided.
Key Issues
1. Whether the half-yearly accounts and the auditors' report of M/s PCH Retail Limited (in liquidation) for the period 01.10.2022 to 31.03.2023, submitted by M/s KBS and Associates, should be taken on record by the Court, as prayed by the Official Liquidator under Section 462 of the Companies Act, 1956, read with Rules 298 and 306 of the Companies (Court) Rules, 1959? Petitioner's Arguments: The Official Liquidator, representing the company in liquidation, argued for the acceptance of the application to formally record the submitted financial statements and audit findings. The intention was to comply with procedural requirements for companies undergoing liquidation. Revenue/State's Arguments: The judgment does not record any specific arguments from the revenue or state authorities. The matter proceeded based on the Official Liquidator's application and the Court's perusal of the documents.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
[ 3166 ] IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD FRIDAY, THE FOURTEENTH DAY OF FEBRUARY TWO THOUSAND AND TWENTY FIVE PRESENT THE HONOURABLE SRI JUSTICE T.VINOD KUMAR COMPANY APPLICATION No.23 of 2025 IN COMPANY PETITION NO: 80 of 2014 ln the matter of the Companies Act, 1956 And In the matter of M/s PCH Retail Limited. (ln Liqn.), Between: The Official Liquidator, attached to the Hon'ble 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 Hon'ble Court may be pleased to. i) take the haltyearly accounts of the subject company (in liquidation) for the period from 01.'10.2022 to 31 .03.2023, along with Auditors Report dated 01 .11.2024 submitted on 05.11.2024 by lt//s. KBS and Associates., 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 fro
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