M/S. Roofers Associates Limited.(In Liqn) vs. No Respondent
Facts
This matter concerns Company Application No. 26 of 2024, filed by the Official Liquidator attached to the High Court of Telangana. The application seeks to take on record the half-yearly accounts of M/s. Roofers Associates Limited (in liquidation) for the period ending June 30, 2024, along with the auditor's report dated June 17, 2024, submitted by M/s. KBS and Associates, Chartered Accountants. The Official Liquidator also requested permission to pay a fee of Rs. 500/- plus GST to the auditors and to debit court fee stamps and notary charges from the company's available funds or the Establishment Revenue Account. The application was heard by the High Court, with arguments presented by the Official Liquidator's counsel.
Held
The Court accepted the prayer made by the Official Liquidator. The half-yearly accounts of M/s. Roofers Associates Limited (in liquidation) for the period ending June 30, 2024, along with the auditor's report dated June 17, 2024, submitted by M/s. KBS and Associates, Chartered Accountants, were taken on file. The Court ordered accordingly, thereby permitting the Official Liquidator to proceed with the necessary steps related to these accounts and reports. The specific directions regarding the payment of auditor fees and other charges were implicitly approved by the acceptance of the application. The ratio of this decision is that the High Court, in its supervisory role over companies in liquidation, will approve and take on record the accounts and auditor's reports presented by the Official Liquidator when they are filed in compliance with the relevant statutory rules.
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 ending June 30, 2024, as submitted by the Official Liquidator. This issue turns on the procedural requirements for winding up companies under the Companies Act, 1956, and the Companies (Court) Rules, 1959. The petitioner, the Official Liquidator, argued that the application was filed in accordance with the relevant provisions of the Companies Act and Rules, seeking the Court's approval for the accounts and auditor's report. The revenue or State did not present any arguments in this matter, as it is an internal procedural application by the Official Liquidator seeking the Court's direction.
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 WEDNE AY, THE SIXTEENTH DAY OF OCTOBER ---- rwo riousauo AND TwENTY FouR PRESENT THE HONOURABLE JUSTICE MOUSHUMI BHATTACHARYA Between: COMPANY APPLIC ATION No. 26 ot 2O24 IN COMPANY PETITION NO: 59 of 1996 ln the Matter of the Companies Act' 1956 AND ln the Matter of M/s. Roofers Associates Limited'(in liqn)' account The Official Liquidator, attached to the Hon'ble High Court of Telangana' and Andhra Pradesrr, rst trooi"6lffi'[ iin'*'"'-atndiaguda' Nagole' Hvderabad - 500068 ...APPLICANT Company Application Under Section 462 o.f the Companies Act' 1956 read with Rule 298 ,no n'i" il;;i th; ilpanies (court) Rules' 1959) praving tnat tni. Hon'ble Court may be pleased to: i) take the hall-yearly accounts of the subiect company (in liquidation) for '' i;;"r';;;;l;#1i il;;; i"; 3oioe zdzz' arons with Auditor's Report dated 17 06 zoia s'b'[t; on 20.06 2024 bv Mis KBS and Associates', Cnartered Accountants on record and permissioni'y !" accorded t" ,"k"';;;;;vt""t oi "ait fee of Rs 500/- plus GST to said ii) ::3it""! this application (court fee stamps and Notary charg-es etc'') may be permittej"to"'UJ -rntt out by.the Official
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