Single judge order allowing company application by Official Liquidator to appoint M/s. Padmanabha Rao & Company as Chartered Accountant to scrutinize liquidation accounts and investigate management misfeasance.
Appointment of M/s.Padmanabha Rao & Company as Chartered Accountant to scrutinize accounts for Rs.30,000/- within three months.
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HON’BLE SRI JUSTICE VILAS V.AFZULPURKAR COMPANY APPLICATION No.1068 of 2013 In C.P.No.151 of 2009
ORDER:
This Company Application is filed by the Official Liquidator seeking appointment of a Chartered Accountant.
The report of the Official Liquidator states that in order to scrutinize the accounts of the Company in liquidation, including the aspects relating to misfeasance or non-feasance by the erstwhile Management, it is necessary to have a report on the accounts of the Company through a Chartered Accountant. The Official Liquidator also addressed letters dated 19.07.2013 to a panel of Chartered Accountants seeking their consent to take up the assignment. It appears that the firms, as listed in paragraph 10 of the affidavit, have given their letters of consent. Hence, the Official Liquidator requests that the Chartered Accountant’s services may be permitted to be utilized.
In the circumstances, the Company Application is allowed appointing M/s.Padmanabha Rao & Company as the Chartered Accountant to scrutinize the accounts of the Company in liquidation with particular reference to any acts of misfeasance or non-feasance or breach of trust by the erstwhile Management prior to winding up. The Official Liquidator shall provide the Chartered Accountant with requisite records. The fee of Rs.30,000/- (Rupees Thirty Thousand Only) is fixed, for the present, to enable M/s.Padmanabha Rao & Company to take up the work expeditiously, and complete the same preferably within a period of three months.
The Company Application is, accordingly, allowed.
VILAS V.AFZULPURKAR,J
Date: 07.10.2013 usd
The Official Liquidator
HE IRAN COMMUNICATIONS LTD
VILAS V.AFZULPURKAR
As recorded by the court registry
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