Karnataka High Court
M/S. Gangavathi Sugar Mills Ltd., (In ... vs Nil on 6 June, 2024
Author: S Sunil Dutt Yadav
Bench: S Sunil Dutt Yadav
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NC: 2024:KHC:19872
CA No. 118 of 2024
IN COP No. 66 of 1997
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 6TH DAY OF JUNE, 2024
BEFORE
THE HON'BLE MR JUSTICE S SUNIL DUTT YADAV
COMPANY APPLICATION NO. 118 OF 2024
IN
COMPANY PETITION NO. 66 OF 1997
BETWEEN:
M/S. GANGAVATHI SUGAR MILLS LTD., (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.
...APPLICANT
(BY SRI. JAGADEESHGOUD PATIL, ADVOCATE)
AND:
Digitally
signed by V NIL
KRISHNA ...RESPONDENT
Location:
High Court of
Karnataka
THIS COMPANY APPLICATION IS FILED UNDER SECTION
462 OF THE COMPANIES ACT, 1956, R/W RULE 11(B) AND 298
OF THE COMPANIES (COURT) RULES, 1956, PRAYING TO TAKE
ON RECORD OF THE REPORT OF SUJATHA G CHARTERED
ACCOUNTANT IN C.A. NO.401/2023 AS IN ANNEXURE "B" FOR
THE PERIOD FROM 01.04.2023 TO 30.09.2023 AND ETC.,
THIS COMPANY APPLICATION, COMING ON FOR ORDERS,
THIS DAY, THE COURT MADE THE FOLLOWING:
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NC: 2024:KHC:19872
CA No. 118 of 2024
IN COP No. 66 of 1997
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.
2. 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. 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 -3- NC: 2024:KHC:19872 CA No. 118 of 2024 IN COP No. 66 of 1997 relating to payment of auditor's fee for their services rendered.
4. Accordingly, C.A.No.118/2024 is disposed off.
Sd/-
JUDGE MCR