IN THE HIGH COURT OF BOMBAY AT GOA COMPANY APPLICATION NO. 32 OF 2009 IN COMPANY PETITION NO. 1 OF 2001 NATIONAL AUTO ACCESSORIES LIMITED (IN LIQUIDATION) ... Applicant Ms. Amira Razzaq, Advocate for the Applicant. Coram:- S.B. DESHMUKH, J. Date:- 20th January, 2011 P.C.: Heard learned Counsel appearing for the applicant. This application has been filed on affidavit, sworn in on 11-02-2009 by Mr. V.S. Nair, Official Liquidator. 2. This application has been filed as per the provisions of Section 462(1) of the Companies Act, 1956, read with Rule 298 of the Companies (Court) Rules, 1959. Rule 298 of the Companies (Court) Rules, 1959 provides for submission of accounts and finalization of accounts ordered by the Court. As per the Rule, such accounts are to be filed twice in a year. Such accounts shall be made up to the 31st of March and 30th of September of every year. The account for the period ending 31st of March being filed not later than the 30th of June following, and account for the period ending 30th September, not later than the 31st of December following. I have also considered the provisions of Rule 298. 3. The applicant seeks condonation of delay of 42 days occurred in filing of half yearly accounts for the period commencing from 01-04-2008 till 30-09-2008. The Official Liquidator also prays for forwarding these accounts to the Auditors M/S L.S. Vaz & Co., Chartered Accountants. 4. Learned Counsel for the applicant points out Rule 7 of the Companies (Court) Rules, 1959. Rule 7 empowers the court to extend the time and order condonation of delay. In other words discretionary power is with the Court. In the fact of the present case, Rule 7 can be exercised and the said delay can be condoned. 5. In view of the above, this company application is allowed in terms of prayer clauses (a) and (b) and disposed of. S.B. DESHMUKH, J. EV