M/S. Ameya Laboratories Limited (In Liqn. ) vs. No Respondent
Facts
This matter concerns Company Application No. 41 of 2024, filed by the Official Liquidator of M/s. Ameya Laboratories Limited (in liquidation). The application sought to take on record the half-yearly accounts of the company for the period from April 1, 2022, to September 30, 2022, along with the auditor's report dated June 12, 2024. The Official Liquidator also sought permission to pay an audit fee of Rs. 500 plus GST, and to meet miscellaneous expenses from the company's available funds or the Estate and Establishment Fund Account. The application was filed under Section 462 of the Companies Act, 1956, read with Rules 298 and 306 of the Companies (Court) Rules, 1959. The application was presented before the High Court for the State of Telangana.
Held
The Court accepted the prayer of the Official Liquidator. It was held that the half-yearly accounts of M/s. Ameya Laboratories 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, should be taken on record. The Court perused the auditor's reports with the assistance of the learned counsel for the Official Liquidator and found them satisfactory for the purpose of the application. The application was ordered accordingly. The specific issue of permission to pay the audit fee and miscellaneous expenses was implicitly granted by the overall acceptance of the application, which included these prayers.
Key Issues
1. Whether the Court should take on record the half-yearly accounts and auditor's report of the company in liquidation for the period 01.04.2022 to 30.09.2022, as submitted by the Official Liquidator. (Question of procedure turning on Companies Act, 1956 and Companies (Court) Rules, 1959). Petitioner's Arguments: The Official Liquidator, through his counsel, submitted the half-yearly accounts and auditor's report and sought the Court's permission to record them. The primary contention was to facilitate the proper winding up and administration of the company's affairs by ensuring its financial records are duly presented and accepted by the Court. Revenue/State's Arguments: No arguments were recorded on behalf of the revenue or the State in this specific application.
Sections Cited
Section 462, Rule 298, Rule 306
AI-generated summary — verify with the full judgment below
Between: IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD FRIDAY, THE EIGHTEENTH DAY OF OCTOBER TWO THOUSAND AND TWENTY FOUR PRESENT THE HONOURABLE JUSTICE MOUSHUMI BHATTACHARYA COMPANY APPLICATION No. 41 ot 2024 IN COMPANY PETITJON NO. 33 Of 2013 & COMPANY PETITION No. 200 of 2014 ln the Matter of the Companies Act, '1956 And ln the Matter of M/s. Ameya Laboratories Limited (ln liqn.) take the- half- yearly accounts of the subject company (in liquidation) for the period from 01. 04.2022 to 30. 09. 2022, along with Auditor Report dated 12.06.2024 submitted on '18. 06. 2024 by M/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 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 Account if no fund is available in the company's account.
The Official Liquidator, attached to the Honble High Court of Telangana, and Andhra Pradesfi, 1st floor, Corporate Bhawan, Bandlaguda, Nagole, Hydglqqq-d - 5oo06s ..APPLICANT Application Under Sectio
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