M/S. HOYSALA BUILDING DEVELOPMENT v. NIL
Case at a glance
Provisions considered
- Companies Act, 2013 ss. 462, 462(5)
Judgment
CO. PVT. LIMITED (IN LIQN) REPRESENTED BY OFFICIAL LIQUIDATOR HIGH COURT OF KARNATAKA CORPORATE BHAVAN, 12TH FLOOR, RAHEJA TOWERS NO.26-27, M G ROAD BANGALORE-560 001 (BY SRI. K S MAHADEVAN., ADVOCATE) AND:
NIL Digitally signed by VIJAYA P Location: HIGH COURT OF KARNATAKA … APPLICANT … RESPONDENT THIS COMPANY APPLICATION IS FILED UNDER SECTION 462 OF THE COMPANIES ACT, 1956 READ WITH RULE 11(B) AND 298 OF THE COMPANIES COURT RULES, 1956, PRAYING TO (A) TO TAKE ON RECORD OF THE REPORT OF C.N. MOHAN & CO., CHARTERED ACCOUNTANTS IN C.A. NO.419/2023 AS IN ANNEXURE "B" FOR THE PERIOD FROM 01.04.2023 TO 30.09.2023; (B) TO APPROVE THE PAYMENT OF RS.590/- AFTER DEDUCTING TDS TO C.N. MOHAN AND CO., CHARTERED - 2 - NC: 2024:KHC:18339 CA No. 100 of 2024 IN COP No.24 of 1991 ACCOUNTANTS AS HIS REMUNERATION AS IN ANNEXURE "C" AND ETC. THIS APPLICATION COMING ON FOR ORDERS THIS DAY, THE COURT MADE THE FOLLOWING: ORDER The Official Liquidator has filed an application placing on record half yearly audit report as contemplated under Section 462 of the Companies Act, 1956. The same is taken note of.
Insofar as the request for dispensation of notice to the creditors and contributories, it is submitted that in terms of Rule 305 of the Companies (Court) Rules, 1959, creditors and contributories are entitled to inspect the accounts and the auditor’s certificate and that there are practical difficulties in sending copies of the audited accounts to each of the contributories. In light of the same, notice as contemplated under Section 462(5) of the Companies Act, 1956 to the contributories and creditors is dispensed with, taking note of the undertaking that the audit report would be uploaded in the website. - 3 - NC: 2024:KHC:18339 CA No. 100 of 2024 IN COP No.24 of 1991
Insofar as the payment of auditor’s fee is concerned, Official Liquidator is permitted to make payment in terms of the guidelines settled by this Court relating to payment of auditor’s fee for their services rendered.
Accordingly, C.A.No.100/2024 is disposed off. Sd/- JUDGE VP
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.