The Andhra Pradesh High Court has approved the Half-Yearly Accounts and Auditors Report, sanctioning the audit fee and GST payment to the Chartered Accountant (CA).
Justice B S Bhanumathi directed that the half-yearly accounts of the subject company (in liquidation) for the period from 01.04.2022 to 30.09.2022, along with the auditor’s report dated 02.12.2023 submitted on 05.12.2023 by M/s. KBS & Associates, Chartered Accountants, be placed on record, and permission be granted to make the payment of the audit fee.
An application was submitted under Section 462 of the Companies Act, 1952, in conjunction with Rule 298 and Rule 306 of the Companies (Court) Rules, 1959, requesting that the Court review the half-yearly accounts of the company currently in liquidation for the period from April 1, 2022, to September 30, 2022, including the Auditor’s Report dated December 2, 2023, filed on December 5, 2023, by M/s. KBS and Associates, Chartered Accountants, and to grant permission for the payment of the audit fee of Rs. 500 plus GST.
The petitioner stated that in compliance of the provision of Section 462 of the Companies Act, 1956 read with Rule 298 and Rule 306 of the Companies (Court) Rules, 1956, the Official Liquidator is enclosing the half yearly accounts for the period from 01.04.2022 to 30.09.2022, which has been duly audited by the auditor M/s. KBS & Associates, Chartered Accountants appointed, pursuant to the Order of this Court dated 27.07.2023 passed in C.A.No.7 of 2023.
The auditor appointed by the Court under the order dated July 27, 2023, in C.A. No. 7 of 2023, has submitted their audit report dated December 2, 2023. The report was filed with the Office of the Official Liquidator on December 5, 2023.
Upon review of the audit report, it has been noted that there are no adverse comments or observations concerning the Statement of Accounts for the company currently in liquidation.
Consequently, a request has been made for the acceptance and recording of the half-yearly accounts and the auditor’s report for the subject company.
Accordingly, the court ruling has granted approval for the company’s application as requested. It ordered that no costs be imposed.
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