The court approved the half-yearly account of M/s. Uplands Finance & Chit Funds (P) Ltd. for the period from 01-10-2012 to 31-03-2013 under Section 462 of the Companies Act, 1956, acting on the application of the Official Liquidator.
Approval of the half-yearly account for the period 01-10-2012 to 31-03-2013.
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THE HON’BLE SRI JUSTICE C.V. NAGARJUNA REDDY COMPANY APPLICATION No.42 of 2014 IN C.P.No.38 of 2002
ORDER:
This is an application filed under Section 462 of the Companies Act, 1956, read with Rule 306 of the Companies (Court) Rules, 1959, by the Official Liquidator attached to this Court acting as Liquidator of M/s. Uplands Finance & Chit Funds (P) Ltd. (in Liquidation), seeking approval of half-yearly account of the above named company for the period from 01-10-2012 to 31-03-2013.
Along with the application, the Auditor’s Report dated 08-102013 submitted by M/s. Sarathy & Balu, the affidavit of the Official Liquidator verifying the account and the statement of account are also enclosed. After perusing all these documents and after hearing Sri M. Anil Kumar, learned counsel for the Official Liquidator, the half-yearly account submitted in respect of M/s. Uplands Finance & Chit Funds (P) Ltd. (in liquidation) is hereby approved.
The application is ordered accordingly without costs.
_________________________ C.V. NAGARJUNA REDDY, J
21st April, 2014 IBL
2 issues framed by the court
Whether the half-yearly account of M/s. Uplands Finance & Chit Funds (P) Ltd. for the period 01-10-2012 to 31-03-2013 requires approval under the Companies Act, 1956.
Whether the application filed by the Official Liquidator seeking approval of the accounts under Section 462 of the Companies Act, 1956 and Rule 306 of the Companies (Court) Rules, 1959 succeeds, and i
1 provisions across 1 enactments
Official Liquidator of M/s. Uplands Finance & Chit Funds (P) Ltd.
C.V. Nagarjuna Reddy
As recorded by the court registry
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