The Official Liquidator v. -
Case brief
What is this about?
The court condoned a delay of 190 days in filing half-yearly accounts and approved the audited accounts for the period 01.04.2009 to 30.09.2009, directing the Official Liquidator to pay the audit fee from company funds while ensuring future compliance with Section 462.
What did the court decide?
Delay condoned; half-yearly accounts approved and taken on record; balance audit fee payment permitted from company funds.
What the court decided
A compact analysis
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
THE HON’BLE SRI JUSTICE SANJAY KUMAR
COMPANY APPLICATION NO.1165 OF 2011 IN R.C.C.NO.102 OF 1996
DATED 4TH DECEMBER, 2012
The Official Liquidator, High Court of Andhra Pradesh, Hyderabad. … Applicant
THE HON’BLE SRI JUSTICE SANJAY KUMAR
COMPANY APPLICATION NO.1165 OF 2011 IN R.C.C.NO.102 OF 1996
ORDER:
This Company Application is filed by the Official Liquidator attached to this Court under Section 462 of the Companies Act, 1956 read with Rules 298 and 306 of the Companies (Court) Rules, 1959, to condone the delay of 190 days in filing the half-yearly accounts of the company in liquidation along with the audit report for the period 01.04.2009 to 30.09.2009 and to consider, approve and take on record the half-yearly accounts along with audit report for the said period. The Official Liquidator also prays for a direction to pay the balance audit fee to the auditor and for costs.
By order dated 19.02.2010 passed in C.A.No.2129 of 2009 in R.C.C.No.2 of 1995, this Court approved the panel of M/s.Murthy & Kanth, M/s.Padmanabha Rao & Co., M/s.PSN Ravi Shankar & Associates, M/s.KBS Associates and M/s.Sarathy & Balu, Chartered Accountants, for auditing the financial statements of the companies in liquidation.
Issues for consideration
3 issues framed by the court
Whether delay in filing half-yearly audited accounts by the Official Liquidator can be condoned.
Whether the audited half-yearly accounts for the period 01.04.2009 to 30.09.2009 should be approved and taken on record.
Whether the direction to pay the balance audit fee to the auditor should be permitted.
Parties & counsel
- applicant
The Official Liquidator
Coram
Sanjay Kumar
Case details
As recorded by the court registry
- Court
- Telangana HC
- Decided on
- · December
- Registered
- Case no.
- COMPA/1165/2011
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