Allowed

M/s Uplands Finance and chit funds (p) Ltd. (In Liqn) v. No respondent

Telangana HC29 Oct 2021COMPA/280/2021

Case brief

AI extract

What is this about?

The High Court of Telangana accepted the Assistant Official Liquidator’s application to take on record the half-yearly accounts and auditors’ report of a liquidated company under Section 462 of the Companies Act, 1956.

What did the court decide?

The half-yearly accounts and auditors' reports were taken on file and the application was ordered accordingly.

M/s Uplands Finance and chit funds (p) Ltd. (In… — Insolvency and Bankruptcy | Telangana HC (2021)

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IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD

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FRIDAY, THE TWENTY NINTH DAY OF OCTOBER TWO THOUSAND AND TWENTY ONE

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PRESENT

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THE HONOURABLE SRI JUSTICE T. VINOD KUMAR

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COMPANY APPLICATION NO.280 OF 2021

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CP. NO.38 OF 2002

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IN THE MATTER OF THE COMPANIES ACT, 1956 AND

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lN THE MATTER OF M/s.Uplands Finance & Chit Funds (P) Limited (In Liqn.)

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Between :

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The Assistant Official Liquidator, For the State of Telangana and the State of Andhra Pradesh, at Hyderabad.

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… APPLICANT

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Company Application Under Section 462 of the Companies Act, 1956 read with Rule 306 and read with Rule 298 of the Companies (Court) Rules, 1959 praying that this Hon'ble Court may be pleased to

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i. Take the half-yearly accounts for the period from 01.04.2020 to 30.09.2020 along with Auditors' Report dated 25.11.2020 submitted on 25.11.2020 by Chartered Accountants on record and permission be accorded to make payment of audit fee;

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Ii Order that the cost of this application and any miscellaneous expenses do come out of the funds of the company or Estate and Establishment Fund if funds are not available in company.

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This Company Application coming on for orders upon reading the Company Application and the affidavit dated 17-07-2021 filed by Sri Suresh Dharavath, Asst. Official Liquidator in support of the Company Application and upon hearing the arguments of Sri. J. Srinadh Reddy, learned counsel for the Official Liquidator for the Applicant.

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The Court made the following ORDER :

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THE HON'BLE SRI JUSTICE T. VINOD KUMAR

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COMPANY APPLICATION No. 280 of 2021

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ORDER :

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This Company Application is filed by the Assistant Official Liquidator under Section 462 of the Companies Act, 1956 read with Rule 306 of the Company (Court) Rules, 1959 to take on record the halfyearly accounts along with the auditors' reports of M/s. KBS & Associates, Chartered Accountants of the company in liquidation.

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Perused the Auditors' Reports with the assistance of Sri J.Srinadh Reddy, learned counsel for the Official Liquidator. The prayer is accepted. The half-yearly accounts and the auditors' reports are taken on file.

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This Company Application is ordered accordingly.

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__________________ T. VINOD KUMAR, J

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Date:29.10.2021 GJ

M/s Uplands Finance and chit funds (p) Ltd. (In Liqn) v. No respondent

Case brief

What is this about?

What did the court decide?

M/s Uplands Finance and chit funds (p) Ltd. (In Liqn) v. No respondent

Case brief

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What did the court decide?

What the court decided

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