M/S. A.P. Steels LTD. And Various Companies (In Liqn) vs. No Respondent
Facts
The Official Liquidator, attached to the High Court for the State of Telangana, filed a Company Application seeking to place on record the audit report dated 01.06.2023 for the period 01.04.2021 to 31.03.2022, submitted by M/s. T. Badarinath and Associates, Chartered Accountants. The application also prayed for permission to pay the audit fee of Rs. 40,000/- and the Goods and Services Tax (GST) thereon to the said auditor, as per a previous order dated 04.11.2022 passed in C.A. No. 37 of 2022, from the Estate and Establishment Fund Account. The application further sought permission to meet the costs of the application and miscellaneous expenses from the available funds of the Estate and Establishment Fund Account. The learned Standing Counsel for the Official Liquidator argued the application.
Held
The Court held that the audit report dated 01.06.2023, submitted by M/s. T. Badarinath & Associates, for the period 01.04.2021 to 31.03.2022, concerning the Estate and Establishment Fund and Company Paid Staff Terminal Benefit Fund Account, is taken on record. The Court further permitted the Official Liquidator to pay the audit fee of Rs. 40,000/- plus GST to the said auditor from the Estate and Establishment Fund Account, in accordance with the order dated 04.11.2022 passed in C.A. No. 37 of 2022. Additionally, the Official Liquidator was permitted to meet the costs of the application and any miscellaneous expenses from the available funds of the Estate and Establishment Fund account. The application was ordered accordingly, with no costs awarded.
Key Issues
1. Whether the audit report dated 01.06.2023 for the period 01.04.2021 to 31.03.2022, submitted by M/s. T. Badarinath & Associates, in respect of the Estate and Establishment Fund and Company Paid Staff Terminal Benefit Fund Account, should be taken on record by this Hon'ble Court? 2. Whether the Official Liquidator should be permitted to pay the audit fee of Rs. 40,000/- and GST thereon to the said auditor from the Estate and Establishment Fund Account, pursuant to the order dated 04.11.2022 passed in C.A. No. 37 of 2022? Contentions: Petitioner (Official Liquidator): The Official Liquidator sought to place the audit report on record and obtain permission to pay the audit fee and GST as per the prior court order. The application was supported by an affidavit. Revenue/State: No specific arguments were recorded for the revenue or State in the judgment.
Sections Cited
Section 462, Rule 302, Rule 309
AI-generated summary — verify with the full judgment below
IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD FRIDAY ,THE FIFTH DAY OF JANUARY TWO THOUSAND AND TWENTY FOUR PRESENT THE HON'BLE SRIJUSTICE T.VINOD KUMAR COMPANY APPLICATION NO. oF 2023 IN R.C.C. NO: 2 OF 1995 IN THE MATTER OF THE COMPANlEs AcT. 1956 AND IN THE MATTER OF M/S. A.P. STEELS LTD AND VARIOUS COMPANIES (IN LloNt (i.) (ii.)
Between: The Official Liquidator, Attached to Hon'ble High Court for the State of Telangana and High Court of Andhra Pradesh. At Hyderabad. ...Applicant Company Application Under Section 462 of the Comganies Act, 1956 read with Rules 9, aO2 & 309 of the Companies (Court ) Rules, 1959 praying that this Hon'ble Court may be Pleased to take the Audit report dated 0110612023 for the period ttom 0110412021 to 31tO312022 submitted by M/s. T.Badarinath and Associates Chartered Accountants, Hyderabad of the Estate and Establishment Fund and Company Paid Staff Terminal Benefit Fund account on record . Copy of the Audit report of both Accounts are enclosed and marked as Annexure-C and Annexure-D colly. permit the Official Liquidator to pay Audit fee of Rs.40,000/- and GST iheruon as per the order dated 0411112022 passed in C.A.No'37 of 2022 trom the E
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