Allowed

The Official Liquidator v. Nil

Andhra Pradesh HC21 Sept 2023COMPA/20/2023

Case brief

AI extract

What is this about?

The Court allowed an applicant's petition under the Companies Act, 1956 and Companies (Court) Rules, 1959 to take on record half-yearly audited accounts and an auditor's report submitted by the Official Liquidator for a company in liquidation, without awarding costs.

What did the court decide?

Taken their accounts and Auditor Report on record; permitted to make payment of audit fee; costs met from available company funds or Estate and Establishment Fund Account if no other funds are availab

The Official Liquidator Vs Nil — Company and Corporate | Andhra Pradesh HC (2023)

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THE HON’BLE Ms. JUSTICE B.S.BHANUMATHI

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COMPANY APPLICATION No.20 OF 2023

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ORDER:

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This company application is filed under Section 462 of the Companies Act, 1956 read with Rule 298 and rule 306 of the Companies (Court) Rules 1959 by the Official Liquidator, for the following reliefs:

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i) Take the half-yearly accounts of the subject company (in liquidation) for the period from 01.10.2021 to 31.03.2022, along with Auditor Report dated 10.01.2023 submitted on 18.01.2023 by M/s. KBS & Associates, Chartered Accountants on record and permission may be accorded to make the payment of audit fee.

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ii) 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; and

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The petitioner stated that in compliance of the provision of

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Section 462 of the Companies Act, 1956 read with rule 298 and rule 306 of the Companies (Court) Rules, 1956 the Official Liquidaor is enclosing the Half-yearly Accounts for the period from 01.10.2021 to 31.03.2022, which has been duly audited by the auditor M/s. KBS & Associates, Chartered Accountants appointed, pursuant to the Order of this Court dated 23.09.2022 passed in C.A.No.68/2022 .

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COMPA_20_2023 21.09.2023 BSB, J

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It is further submitted that the said Auditor appointed by this Court vide order dated 23.09.2022 in C.A.No.68/2022 submitted the Audit Report dated 10.01.2023 in respect of above company (in liquidation) with the office of Official Liquidator on 18.01.2023 and on its perusal, it was observed that there is no adverse comment and observation on the Statement of Accounts of the said company (in liquidation) and as such it is prayed that Half-yearly Account and Auditors Report of Subject Company (in liquidation) be taken on record.

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For the above reasons, the company application is allowed as prayed for. No costs.

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B.S.BHANUMATHI, J

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Dt.21.09.2023 KMS

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COMPA_20_2023 21.09.2023 BSB, J

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THE HON’BLE Ms. JUSTICE B.S.BHANUMATHI

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COMPANY APPLICATION No.20 OF 2023

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Dated 21.09.2023

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KMS

The Official Liquidator v. Nil

Case brief

What is this about?

What did the court decide?

The Official Liquidator v. Nil

Case brief

What is this about?

What did the court decide?

What the court decided

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The Official Liquidator Vs Nil