Allwyn Auto Limited (In Liqn.) vs. No Respondent
Facts
The Official Liquidator, attached to the High Court of Telangana and Andhra Pradesh, filed a Company Application seeking to take on record the half-yearly accounts of M/s. Allwyn Auto Limited (in liquidation) for the period from April 1, 2022, to September 30, 2022. The application also sought permission to pay the audit fee of Rs. 5000 plus GST and other miscellaneous expenses from the company's funds or the Estate and Establishment Fund Account. The application was supported by an affidavit and the auditors' report dated June 12, 2024, submitted on June 18, 2024, by M/s. Padmanabha Rao and Co., Chartered Accountants. The Court perused the auditors' reports with the assistance of the counsel for the Official Liquidator.
Held
The Court accepted the prayer of the Official Liquidator. The half-yearly accounts of M/s. Allwyn Auto Limited (in liquidation) for the period from April 1, 2022, to September 30, 2022, along with the auditor's report submitted by M/s. Padmanabha Rao and Co., Chartered Accountants, were taken on record. The Court ordered accordingly, granting permission for the accounts and reports to be filed. The specific issue of payment of audit fees and miscellaneous expenses was implicitly permitted by the order taking the accounts on record, as this was part of the Official Liquidator's prayer. The Court did not expressly leave any issue undecided.
Key Issues
1. Whether the Court should take on record the half-yearly accounts of the company in liquidation for the period from April 1, 2022, to September 30, 2022, along with the auditor's report. (Question of fact and procedure). Petitioner's Contention: The Official Liquidator, representing the company in liquidation, sought the Court's permission to place the half-yearly accounts and the auditor's report on record and to permit the payment of audit fees and other expenses. The application was filed in accordance with the Companies Act, 1956, and the Companies (Court) Rules, 1959. Revenue/State's Contention: The judgment does not record any specific arguments or contentions from the revenue or state authorities in this matter. The proceedings appear to be administrative in nature, concerning the liquidation process of the company.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
Between: The Official Liquidator, attached to the Hon'ble High Court of Telangana, and Andhra Pradesh, 1't fl6or, Corporate Bhawan, Bandlaguda, Nagole, Hyderabad -500068 ...APPLICANT Company 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 half-yearly accounts of thb subject company (in liquidation) for the period from 01 .04.2022 lo 30.09.2022, along with Auditor Report dated 12.06.2024 submitted on 18.06.2024 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. IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD FRIDAY,THE TWENW FIFTH DAY OF OCTOBER TWO THOUSAND AND TWENTY FOUR PRESENT THE HON'BLE JUSTICE MOUSHUMI BHATTACHARYA coMPANY APPLICATION NO. 73 OF 2024 IN c.P. NO.99 0F 2000 ln the matter of M/s.Allw vn Auto Limited ( ln Liqn) cost of this application and any miscellaneous expenses may be permitted to be met out by the Official Liquidator from the available funds of the company (in liquidation) or Estate and Establishment Fund Acc
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