M/s.Ontime pharma Limited (in liqn) v. Nil

Telangana HC7 Aug 2025COMPA/164/2025

Case brief

AI extract

What is this about?

Company Application under Section 462 Companies Act 1956: Half-yearly accounts of company in liquidation taken on record; audit fee of Rs.5001 plus GST allowed payable from company funds or Estate and Establishment Fund with reimbursement condition.

What did the court decide?

Half-yearly accounts taken on record; audit fee of Rs.5001 plus GST allowed to be paid from company funds or Estate and Establishment Fund account subject to reimbursement. ¶25-30

M/s.Ontime pharma Limited (in liqn) Vs Nil — Company and Corporate | Telangana HC (2025)

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[³¹⁶⁸ ]

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IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD

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THURSDAY, THE SEVENTH DAY OF AUGUST TWO THOUSAND AND TWENTY FIVE

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PRESENT

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THE HONOURABLE SRI JUSTICE K.LAKSHMAN

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COMPANY APPLICATION No.164 of 2025

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COMPANY PETITION NO: 167 of 2OO1

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ln the matter of the Companies Act, 1956 And

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ln the mafter of M/s.Ontime pharma Limited (in liqn)

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The. official Liquidator, attached to the Hon'bre High court of reranqana. and Andhra Pradesh, lst floor, Corporate Bhawan, erndirgrda Nr'g"b..'flyl.iZ;ii: 500068

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...Applicant

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Application under Section 462 of the companies Act, 1gs6 read with Rule 2g8 and Rule 306 of the companies (court) Rures,^.r g59 praying that this court may be pleased to:

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i. take the hatf-yearly.a:^"o^1!: of the subject company (in tiquidation) for the period from 01.10.2023 to. 31 .O3.202 , aiong *itf, inaep.nlent Auditors' Report dated 27.o5.202s submitted on 63.06.202s [v nil, Padmanabha Rao and Co., Chartered Accountants on recori and permission may be accorded to make the payment of audit fee of Rs.500t plus GST to the said auditor.

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ii. cost of this application (Court fee Stamps and Notary Charges etc.,) may be permitted to be met out by the officiar Liquidator trorn"tne ,rritrot" funds of the company (in riquidation) or Estate and Estabrishment Fund account if no fund is avairabre in the company,s account. subjeci to reimbursement of the same from the funds of iompany fin fiqni-upon realization of assets of the Company (in liqn).

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This application coming on for orders, upon reading the Judge's summons and the affidavit dated 16.07.202s filed by Sri Uttam Kumar sahoo, officiar Liquidator attached to Telangana High court in support of the company Apprication and

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upon hearing the arguments of Sri J. Sreenath Reddy, Cc,unsel for the Official Liquidator/Applicant.

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The Court made the following: ORDER

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THE HONOURABI,E SRI JUSTICII K. LAKSHMAN COMPANY APPLICATION No. I 64ol 2025 in C.P.No.l67 ol 2001

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ORDER:

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Hcard Sri J.Sreenath Reddy, learned counsel lor the Official Liquidator.

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Having satisfied with the reasons rnentioned in the supporting

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affidavit, ancl upon considering the hall'-yearly accounts tiled by the learned Offlcial Liquidator, this application is ordered with the

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following:-

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a. The half-yearly accounts of thc sub-ject Company, which is in liquidation fbr the periotl from 0l. l0,202l to 31 .03.2024, along with the Auditor's Report dated 27.05.2025 subrnitted on 03.06.2025 by l\4/s.Padmanabha Rao & Co., Charrered Accountants, are taken ort record.

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b. Pennission is accordecl ro the lecrnL'd Officiat Liqurdator to pay an audit fee of Rs.500l- plus GST to the Auditor.

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c. Permission is also accorded to the learned Ofhcial Liquidator to rnake the said payment lrorn the avaitable tunds of the Company (in liquidation), or from the Estate and Establishment Fund account if no fund is available in the Cornpany,s account, subject to reimbursement frorn the funds of Company (in

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liquidation ) upon realization ol its a ssets

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SD/- B. SATYAVATHI JOINT REGIS

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,TRUE COPY// SECTION OFFICER

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To, SECTION OFFICER The Official Liquidator, M/s.Ontime pharma Limited., Office at j floor, Corporate Bhawan, Bandlaguda, Nagole, Hyderabad -500068.

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-:1&""*ll-

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The Registrar of Companies, Minislry of Corporate Aifairs, Government of lndia 2nd floor Corporate Bhawan, Nagole, Bandlag uda, Thattiannaram Village Hayathnagar ltrlandal, Ranga Reddy Distri:t, Telangana State Pin Code 500 680.

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The Regional Director, South Eastern Region, l,4inistry of Corporate Affarrs, 3'd floor Corporate Bhawan, Nagole, Bandlac uda, Thattiannaram Village [-layathnagar lt/andal, Ranga Reddy District Telangana State, Pin Code 500 €j80.

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