M/S. Remu Pipes Limited. (In Liqn) vs. No Respondent
Facts
The Official Liquidator, attached to the Telangana High Court, filed Company Application No. 94 of 2024. The application sought to take on record the half-yearly accounts of M/s Remu Pipes Limited (in liquidation) for the period from April 1, 2022, to September 30, 2022, along with the Auditors' Report dated June 17, 2024, submitted by M/s KBS and Associates. The Official Liquidator also requested permission to pay the audit fee of Rs. 500 plus GST to the auditors 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 counsel for the Official Liquidator.
Held
The Court accepted the prayer made by the Official Liquidator. The half-yearly accounts of M/s Remu Pipes Limited (in liquidation) for the period from April 1, 2022, to September 30, 2022, along with the Auditors' Report submitted by M/s KBS and Associates, were taken on record. Consequently, the Company Application was ordered accordingly. The Court did not make any specific findings or reasoning regarding the GST component of the audit fee, as the primary focus was on the procedural acceptance of the accounts and report. The operative direction was to take the accounts and report on file.
Key Issues
1. Whether the Court should take on record the half-yearly accounts and Auditors' Report for M/s Remu Pipes Limited (in liquidation) for the period April 1, 2022, to September 30, 2022. This issue turns on the procedural requirements for liquidations under the Companies Act, 1956, and the Companies (Court) Rules, 1959. Petitioner's Arguments (Official Liquidator): The Official Liquidator, as the applicant, presented the half-yearly accounts and Auditors' Report for the specified period and sought the Court's approval to take them on record. The applicant also requested permission for the payment of audit fees and application costs. Revenue/State's Arguments: The judgment does not record any arguments from the revenue or state. The matter proceeded based on the application filed by the Official Liquidator.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD TUE AY, THE TWELFTH DAY OF NOVEMBER TWO THOUSAND AND TWENW FOUR PRESENT THE HONOURABLE JUSTICE MOUSHUMI BHATTACHARYA COMPANY APPLICATION No.94 ol 2024 R.C.C.: 9 OF 1999 ln the Matter of the Companies Act, 1956 AND ln the Matter of M/s Remu pipes Limited. (in liqn), Between: J!g.!-nicra,riguila.toy, attached to the Honbte High Court of Tetansana, and Anohra pradesh, 1st floor, Corporate Bhawan, Bandlaguda, Nagole, Hy?erabad - 500068 ...Applicant Application under section 462 of the companies Act, 1956 read with order Rule 298 and Rure 306 of the companies (court) Rures isssl pr"yirj ttai tl,rs Hon'ble Court may be pleased to: i) take the harf- yearry- accounts of the subject company (in riquidation) for the period from 01. 04.2022 to 30. 09. 2022, arong wittr nuoitors Report dated 17. 06. 2024 submitted on 20. 06. 2Oi4 by M/s. KBS and Associates. , Chartered Accountants on record and permission may be accorded to make the payment of audit fee of Rs. 500/- prus GST to said auditor. ii) cost of this application (Court fee Stamps and Notary Charges etc. ,) may be permitted to be met out by the Official Liquidator- from the ava
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