Allowed

M/s.Mitra Chit Fund Private Limited (in liqn) v. No Respondent

Telangana HC7 Aug 2025COMPA/165/2025

Case brief

AI extract

What is this about?

This order allowed an application by the Official Liquidator of a company in liquidation to take half-yearly accounts and an independent auditor's report on record and to pay the audit fee from company funds or the establishment fund subject to reimbursement upon asset realization.

What did the court decide?

Permission to place accounts on record and to pay audit fee of Rs. 500 plus GST from company funds subject to reimbursement.

M/s.Mitra Chit Fund Private Limited (in liqn) Vs No Respondent — Telangana HC (2025) — LawSathi Research

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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. 165 of 2025

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IN COMPANY PETITION NO: 20 of 1984

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ln the matter of the Companies Act, 1956 And

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ln the matter of M/s. Mitra Chit Fund Private Limited (in liqn)

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The Officral Liquidator, attached to the Honourable High Court of Telangana, and Andhra Pradesh, 1st floor, Corporate Bhawan, Bandlaguda, Nagole, Hyderabad - 500068

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...Applicant

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Application under Section 462 of the Companies Act, 1956 read with and Rule298 and Rule 306 of the Company (Court) Rules^{'1959 praying} that this Hon'ble Court may be pleased to:

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take the hallyearly accounts of the subject company (in liquidation) for the period from 111012023 lo 3110312024, along with lndependent Auditor's Report dated 2710512025 submitted on 0310612025 by tt/l/s. Padmanabha Rao and Co., Chartered Accountants on record and permission may be accorded to make the payment of audit fee of Rs.500l plus GST to the said auditor.

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cost of this application (Court fee Stamps and Notary Charges etc.,) may be permitted to be met out by the Official Liquidator from the available funds of the company (in liquidation) or Estate and Establishment Fund account if no fund is available in the company s account. subject to reimbursement of the same from the funds of Company (in liqn) upon realization of assets of the Company⁽ⁱⁿ liqn), if any.

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This application coming on for orders, upon reading the affidavit dated 16.07.2025 filed by Sri Uttam Kumar Sahoo, Official Liquidator attached to the

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High Court for the State of Telangana, in support of the Company Application and upon hearrng the arguments of Sri J. Sreenadh lleddy, Counsel for the Ofiicial Liquidator for the Applicant

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The Court made the following: ORDER

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THE HONOURABLE SRI JUSTICE K. LAKSTIMAN COMPANY APPLICATION No. 165 of 2025 in C.P.N 20 of l9E4

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ORDER:

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Hcard Sri J.Sreenath Reddy, leamed counsel for the Ofhcial Liquidator

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Having satisfied with the reasons mentioned in the supporting

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affidavit, and upon considering the half-yearly accounts frled by the learned Official Liquidator, this application is ordered with the fo llowing:-

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a. The half-yearly accounts of the subject Company, which is in liquidation for the period fiom 01 . 10.2023 to 3l .03.2024, along with the Auditor's Report dated 27.05.2025 submitted on 03.06.2025 by lWs.Padmanabha Rao & Co., Chartered Accountants, are taken on record.

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b. Permission is accorded to the leamed Official Liquidator to pay an audit fee of Rs.500/- plus GST to the Auditor

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c. Permission is also accorded to the leamed Official Liquidator to make the said payment from the available funds of the Company (in liquidation), or from the Estate and Establishment Fund account if no fund is available in the Company's account,

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subject to reimbursement fiom the funds of Company (in

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liquidation) upon realization of its assets.

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To,

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//TRUE COPY//

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1 . The Official Liquidator, M/s. Mitra Chit Fund private Limited Bandlaguda, Nagole. Hyderabad-500 068

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. M. RAMANA KRISHNA JOINT REGISTRAR SECTION OFFICER

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st Floor. Corporate Bhawan,

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-7

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\ I

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The Registrar of Companies, Ministry of Corporate ,\ffairs, Government of India 2nd floor Corporate Bhawan, Nagole, Bandl: guda. Thattiannaram Village Hayathnagar Mandat, Ranga^-Reddy Distict, Tetang;"; ai;i; Pin Code 500 680.

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The Reg,ional Director, .^{South Eastern Region, tr4inistry ofCorporate}

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Affairs, 3'd . . floor Corporate Bhawan, Nagole,^{"BanOt,a;uda,} Thattiannaram Yill?S"_^-^{Hayathnagar l.4andal, Ranga ieOOy Distrrr;, Telangana} State,^pin Code 500 680.

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The S.O. O.S Section, High Court at Hyderabad, for th€. State of Telangana. 5. One CC to Sri J. Srinadh Reddy, Counsel for Official liquidator, HigliCo;rt for at Hyderabad [OPUC]

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Two CD Copies

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DUPSL

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, I

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l i i i i I I I I I i i iI

HIGH COURT

DATED:07/08/2025

ORDER

COMPANY APPLICATION No. 165 of 2025 IN

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COMPANY PETITION NO: 20 of 1984

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ORDERING THE APPLICATION

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M/s.Mitra Chit Fund Private Limited (in liqn) v. No Respondent

Case brief

What is this about?

What did the court decide?

M/s.Mitra Chit Fund Private Limited (in liqn) v. No Respondent

Case brief

What is this about?

What did the court decide?

What the court decided

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