Disposed

M/S Vijaya Commercial Credit Ltd. (in Liqn) v. Nil

Karnataka HC6 Feb 2023CA/117/2022

Case brief

AI extract

What is this about?

This is an interim order in a company liquidation matter. The Court accepted an audit report filed by the Official Liquidator under Section 462 of the Companies Act, 1956, dispensed with notice to creditors, and directed the Official Liquidator to pay fees to the Chartered Accountant before disposing of the application.

What did the court decide?

Audit report accepted; notice to creditors dispensed with; Official Liquidator directed to pay auditor fees.

M/S Vijaya Commercial Credit Ltd. (in Liqn) Vs Nil — Company and Corporate | Karnataka HC (2023)

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CA No. 117 of 2022

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IN COP NO.125/2002

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 6^TH DAY OF FEBRUARY, 2023

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BEFORE

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THE HON'BLE MR JUSTICE KRISHNA S DIXIT

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CA NO. 117/2022 IN COP NO.125/2002

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BETWEEN:

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M/S. VIJAYA COMMERCIAL CREDIT LTD., (IN LIQN.), REPRESENTED BY OFFICIAL LIQUIDATOR, HIGH COURT OF KARNATAKA, CORPORATE BHAVAN, 12^TH FLOOR, RAHEJA TOWERS, NO.26-27, M.G.ROAD, BENGALURU - 560 001.

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…APPLICANT

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(BY SMT.REVATHI ADINATH NARDE, ADVOCATE)

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AND:

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NIL

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Digitally signed by CHETAN B C Location: HIGH COURT OF KARNATAKA

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…RESPONDENT

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THIS APPLICATION IS FILED UNDER SECTION 462(5) OF THE COMPANIES ACT, 1956, R/W RULE 11(b) & 298 OF THE COMPANIES (COURT) RULES, 1959, PRAYING TO APPOINT AN AUDITOR TO AUDIT THE ACCOUNTS OF THE OFFICIAL LIQUIDATOR FOR THE HALF YEAR ENDING 31.03.2022 AND FIX REMUNERATION; & ETC.,

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THIS APPLICATION, COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING:

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2 - CA No. 117 of 2022

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IN COP NO.125/2002

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ORDER

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The Official Liquidator has filed an application placing on record Audit Report as contemplated under Section 462 of the Companies Act, 1956.

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The Audit Report is accepted for the reasons stated therein and notice to Creditors & Contributories contemplated under Section 462(5) of the erstwhile Companies Act, 1956 is dispensed with on the submission of the Official Liquidator and assurance that this Audit Report would be web-hosted in the Official Liquidator’s Website so as to enable their inspection by Creditors & Contributories in terms of Rule 305 of the Companies (Court) Rules, 1959. Notice is dispensed with, taking note of the undertaking.

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The Official Liquidator is directed to make payment of fees to the Chartered Accountant, as ordered by this Court earlier.

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CA No. 117 of 2022

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IN COP NO.125/2002

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Ordered accordingly and Company Application is

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disposed off.

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Sd/JUDGE

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M/S Vijaya Commercial Credit Ltd. (in Liqn) v. Nil

Case brief

What is this about?

What did the court decide?

M/S Vijaya Commercial Credit Ltd. (in Liqn) v. Nil

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Statutes considered

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