Telangana High Court
COMPA/593/2012 of The Official Liquidator Vs - on 31 December 2012
SANJAY KUMAR COMPANY APPLICATION No.593 of 2012 in R.C.C. No.17 of 1998 Date: December 31, 2012 The Official Liquidator, High Court of Andhra Pradesh, Hyderabad. … Applicant * * * HON’BLE SRI JUSTICE SANJAY KUMAR COMPANY APPLICATION No.593 of 2012 in R.C.C. No.17 of 1998 O R D E
Date: December 31, 2012
The Official Liquidator,High Court of Andhra Pradesh,Hyderabad. … Applicant
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O R D E R:
This Company Application is filed by the OfficialLiquidator attached to this Court under Section 462 of theCompanies Act, 1956 read with Rule 306 of the Companies(Court) Rules, 1959, to consider, approve and take on recordthe half-yearly accounts of the company in liquidation for theperiod 01.04.2011 to 30.09.2011 along with the audit report. The Official Liquidator also prays for a direction to pay thebalance audit fee to the auditor and for costs.
2. By order dated 06.01.2012 passed in C.A. No.1970 of 2011in R.C.C. No.2 of 1995, this Court approved the panel ofM/s.Murthy & Kanth, M/s. Padmanabha Rao & Co., M/s. PSNRavi Shankar & Associates, M/s. KBS & Associates and M/s.Sarathy & Balu, Chartered Accountants, for auditing thefinancial statements of the companies in liquidation.
3. It is stated that the half-yearly accounts of the companyin liquidation pertinent to this application were audited by oneof the aforestated Chartered Accountants and the auditcertificate was received from the said Chartered Accountantcertifying that the half-yearly financial accounts of thecompany in liquidation for the period 01.04.2011 to 30.09.2011were in order.
4. This Court, by order dated 14.06.2012, directed Sri M.Anil Kumar, learned counsel for the Official Liquidator, tosubmit a statement giving particulars of the delay in filing thehalf-yearly accounts. The learned counsel accordingly filedreport dated 21.06.2012 along with a tabular statementindicating that there is no delay in filing of applications forapproval of half-yearly accounts for the period 01.04.2011 to30.09.2011 in respect of the companies in various stages ofliquidation. The said report is accordingly taken on record.
5. The Official Liquidator has placed on record theauditor’s report certifying that proper books of accounts asrequired by law had been maintained and the receipts andpayments accounts maintained by the Official Liquidator givesa true and fair view as to the realization and disbursements ofthe company in liquidation during the period. The affidavitverifying the account is also filed by the Official Liquidatoralong with a statement of account in Form No.144, detailingthe total realizations up to 30.09.2011 as Rs.5,67,64,191.00 ps.and the total disbursements up to 30.09.2011 atRs.5,64,84,097.76 ps.
6. In the light of the aforestated documents, the half-yearlyaudited accounts placed before this Court by the Officialliquidator for the period 01.04.2011 to 30.09.2011 in respect ofthe company in liquidation is approved and taken on record. The Official Liquidator is permitted to pay the balance fee tothe auditor in accordance with Rule 304 of the Companies(Court) Rules, 1959. The costs of this application shall be metfrom the funds of the company in liquidation. The OfficialLiquidator shall ensure compliance with Section 462 (4) of theCompanies Act, 1956.
7. The Company Application is ordered accordingly.
___________________SANJAY KUMAR, J.
Date: December 31, 2012.BSB
BSB
Date: December 31, 2012