Company Application No. 1791 of 2011 · High Court of Andhra Pradesh · 2012
Case at a glance
Provisions considered
- Companies Act, 2013 ss. 462, 462(4)
Judgment
THE HON’BLE SRI JUSTICE SANJAY KUMAR COMPANY APPLICATION NO.1791 OF 2011 IN COMPANY PETITION NO.160 OF 1997 ORDER: This Company Application is filed by the Official Liquidator attached to this Court under Section 462 of the Companies Act, 1956 read with Rule 306 of the Companies (Court) Rules, 1959, to consider, approve and take on record the half-yearly accounts of the company in liquidation for the period 01.10.2010 to 31.03.2011 along with the audit report. The Official Liquidator also prays for a direction to pay the balance audit fee to the auditor and for costs. By order dated 07.07.2011 passed in C.A.No.681 of 2011 in R.C.C.No.2 of 1995, this Court approved the panel of M/s.Murthy & Kanth, M/s.Padmanabha Rao & Co., M/s. PSN Ravi Shankar & Associates, M/s.KBS Associates and M/s.Sarathy & Balu, Chartered Accountants, for auditing the financial statements of the companies in liquidation. It is stated that the half-yearly accounts of the company in liquidation pertinent to this application were audited by one of the aforestated Chartered Accountants and the audit certificate was received from the said Chartered Accountant certifying that the half- yearly financial accounts of the company in liquidation for the period
01.10.2010 to 31.03.2011 were in order. This Court, by order dated 14.06.2012, directed Sri M. Anil Kumar, learned counsel for the Official Liquidator, to submit a statement giving particulars of the delay in filing the half-yearly accounts. The learned counsel accordingly filed report dated 21.06.2012 along with a tabular statement indicating that there is no delay in filing of applications for approval of half-yearly accounts for the period 01.10.2010 to 31.03.2011 in respect of the companies in various stages of liquidation. The said report is accordingly taken on record. The Official Liquidator has placed on record the auditor’s report certifying that proper books of accounts as required by law had been maintained and the receipts and payments accounts maintained by the Official Liquidator gives a true and fair view as to the realization and disbursements of the company in liquidation during the period. The affidavit verifying the account is also filed by the Official Liquidator along with a statement of account in Form No.144, detailing the total realizations upto 31.03.2011 as Rs.1,52,527.31 ps. and the total disbursements upto 31.03.2011 at Rs.13,563.25 ps. In the light of the aforestated documents, the half-yearly audited accounts placed before this Court by the Official liquidator for the period
01.10.2010 to 31.03.2011 in respect of the company in liquidation is approved and taken on record. The Official Liquidator is permitted to pay the balance fee to the auditor in accordance with Rule 304 of the Companies (Court) Rules, 1959. The costs of this application shall be met from the funds of the company in liquidation. The Official Liquidator shall ensure compliance with Section 462 (4) of the Companies Act,
#1956. The Company Application is ordered accordingly. ____________________ SANJAY KUMAR, J. 19TH DECEMBER, 2012. PGS
Questions this judgment answers
Which statutory provisions did this judgment involve?
Companies Act, 2013 — ss. 462, 462(4).
Which court decided this case, and when?
Andhra Pradesh High Court, on 19 Dec 2012. The bench was SANJAY KUMAR.
Precedent status how later indexed judgments have treated this case
No known negative treatment found in the Courts & Cases corpus.
This is a result about the indexed corpus, not a finding that the judgment remains good law. Coverage may be incomplete.