Partly allowed

The Official Liquidator v. a

Andhra Pradesh HC17 Jun 2024COMPA/13/2024

Case brief

AI extract

What is this about?

Official Liquidator sought to place audited half-yearly accounts of a company in liquidation on record, pay the audit fee, and recover miscellaneous expenses. Court took accounts and report on record, permitted the fee payment, but refused miscellaneous expenses for want of details.

What did the court decide?

Accounts and audit report taken on record; audit fee of Rs.500 plus GST payable from company funds; miscellaneous expenses refused.

The Official Liquidator Vs a — Insolvency and Bankruptcy | Andhra Pradesh HC (2024)

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APHC010239952024

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IN THE HIGH COURT OF ANDHRA PRADESH AT AMARAVATI (Special Original Jurisdiction)

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[3311]

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TUESDAY, THE EIGHTEENTH DAY OF JUNE TWO THOUSAND AND TWENTY FOUR

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PRESENT

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THE HONOURABLE MS JUSTICE B S BHANUMATHI

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COMPANY APPLICATION NO: 13/2024

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Between:

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The Official Liquidator

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...Applicant

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Counsel for the Applicant:

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Sri T V P SAI VIHARI(SC FOR OFFICIAL LIQUIDATOR)

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The Court made the following:

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BSB, J

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Comp. A No.13 of 2024

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

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Company Application No.13 of 2024 In

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Company Petition No.10 of 1999

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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 01-04-2022 to 30-09-2022 along with Auditor Report dated 27-12-2023 submitted on 03-01-2024 by M/s. Murthy & Kanth, Chartered Accountants on record and permission may be accorded to make the payment of audit fee of Rs.500 plus GST.

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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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iii) Pass such other order or orders as this Hon’ble Court may deem fit and proper in the circumstances of the case.

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Heard Sri Sk. Rafi , learned counsel representing Sri T.V.P. Sai Vihari , learned standing counsel for the Official Liquidator.

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BSB, J Comp. A No.13 of 2024

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The applicant, in the affidavit filed in support of the application, stated that the half-yearly accounts for the period from 01-04-2022 to 30-09-2022 had been duly audited by the auditor, M/s. Murthy & Kanth, Chartered Accountants appointed pursuant to the order of this Court, dated 27.07.2023, in C.A.No.7 of 2023. It is further stated that the auditor had submitted the audit report, dated 27.12.2023, in respect of the above company (in liquidation) on 03.01.2024. A perusal of the audit report, it is observed therein - “there is no adverse comments and observation on the Statement of Accounts” of the company (in liquidation). Insofar as the miscellaneous expenses are concerned, since there is no detail or the evidence, it cannot be allowed.

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In view of the aforesaid submissions, the company application is allowed as prayed for, except the miscellaneous expenses. No costs.

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___________________ B.S.BHANUMATHI, J

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18.06.2024 RAR

The Official Liquidator v. a

Case brief

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What did the court decide?

The Official Liquidator v. a

Case brief

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