Disposed

M/s. Polytech Organics Limited (In Liqn.) v. No Respondent

Telangana HC17 Sept 2021COMPA/96/2021

Case brief

AI extract

What is this about?

Court accepted the prayer of the Assistant Official Liquidator to file half-yearly accounts and auditors' reports and accepted the affidavit regarding no receipts or payments for M/s. POLYTECH ORGANICS LIMITED.

What did the court decide?

The Company Application is accepted to take on record the half-yearly accounts along with auditors' reports and to accept the affidavit of no receipts or payments for the stated periods.

M/s. Polytech Organics Limited (In Liqn.) Vs No… — Company and Corporate | Telangana HC (2021)

¶1

IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD

¶2

FRIDAY, THE SEVENTEENTH DAY OF SEPTEIUBER TWO THOUSAND AND TWENTY ONE

¶3

PRESENT

¶4

THE HONOURABLE SRI JUSTICE T. VINOD KUMAR

¶5

COMPANY APPLICATION NO.96 OF 2021 IN

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R.C.C. NO.4 0F 1993

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IN THE MATTER OF THE COMPANIES ACT, 1956 AND

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lN THE MATTER OF M/s. POLYTECH ORGANICS LIMITED (ln 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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Take the audited half-yearly accounts for the periods from ('1 ) 01 .10.2017 to 31 .03.201 8 along with Auditors' Report dated 01 .02.2021 submitted on 16.02.2021 by lV/s. Padmanabha Rao & Company; (2) 01 .04.2018 to 30.09.2018 along with Auditors' Report dated 25.11.2020 submitted on 17.02.2021; and (3) 01.04.2019 to 30.09.20'19 along with Auditors' Reporl dated 25.11.2020 submitted on 17.02.2021 by M/s. KBS & Associates, Chartered Accountants on record,

¶14

1t Take the affidavit of^"no receipts or payments' of haltyearly accounts for the periods from (4) 01.10.2018 to 31.03.2019; and (5) 01.10.2019 to 31.03.2020 on record: and

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1 . 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 28-06-2021 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 JUSTICET' VINODKUMA.R}

¶19

COM P ANY^{APP LICATI ON No.96ot 2021}

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ORDER:

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This Company^{Application is filed by the AssistantOfficial} Liquidator under^{Section 462 of the Companies Act' 1956 readwith Rule} 306 of the^{Company(Court) Rules, 1959 to take on record the half-} yearly accounts^{along with the auditors' reports of M/s PadmanabhaRao} & Company.^{CharteredAccountant and M/s KBS & Associates' Chartered} Accountants^{of the companyin liquidation}

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PerusedtheAuditors.ReportswiththeassistanceofSriJ.Srinadh Reddy, learned^{counsel for the Official Liquidator' Also perused the} affidavit of^{official Liquidatorshowing "no receipts or payments"during} the^{periodfrom 01.10.2018to 31'032019 and from 01 10 2019to} 31 .03.2020^{(both days inclusive)' The prayer is acceptedThehalf-} yearly accounts^{and the auditors' reports are taken on file'}

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This Company^{Applicationis ordered accordingly'}

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Sd/.K.SRINIVASA^RAO JoINT BeGISTRAR c1r) ,TRUE^COPY' SECTION^OFFICER

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To 1. The Official^{Liquidator,M/s Polytech Org-anics.Limrted(ln Liqn')'High Court at} Hvderabad^{for the State oi f"i''ngunuO"fficeat 1'' Floor'Corpo'ate Bhawan'} Naoole, Bandlaguda,^{rn]iti'ii,''# v'r''s"' iavathnagarMandal' Ranga Reddv} ijliti.ir"ir.sr"na^{State PinCode-500 680'}

¶26

2 The^{Resistrror cotp'I";ifi;ti;;ie;rporateAffairs' Government of lndia'} 2,,d Froor,^{corporare Bh;;;' i;s;i6.aalgrrylol,-rhattiannaramVillase'} Hayathnagar^{H'rano'r n-iaRJo'Jyoistnct T-elangana State PinCode-500 680'}

¶27

3 Tne^{Resronal Director'S;;t; ;:;t"-H"gl;nMti-tttv of Corp.rate Aflairs' 3 "} Floor, Corporate^{an'w;; l\ugote'Banotiguoa'Thattiannaram Village'} Havathnagar^{Mandal'n"L' ft"iOv Oistri;t Telangana State Pin Code-500 680'}

¶28

4 The Secrion^{Otticer, OStJJtililnt[ C"rrt of Juiicature at Hvderabad' for the} u. 3f:"""11""'3ln13i..on^{Reddy, orriciar Liquidator, Hish court at Hvderabad} (oPUC)

¶29

Two^{CD CoPies}

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One^{SPare CoPY} Kj

¶31

HIGH COURT

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DATED:1710912021

¶33

E STAI'E
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¶34

ORDER

¶35

COMPANY APPLICATION^No.96 ol²⁰²¹

¶36

ORDERING THE C.A.

¶37

?n<br>L

M/s. Polytech Organics Limited (In Liqn.) v. No Respondent

Case brief

What is this about?

What did the court decide?

M/s. Polytech Organics Limited (In Liqn.) v. No Respondent

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

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