IN THE HIGH COURT OF JUDICATURE OF ANDHRA PRADESH AT HYDERABAD WEDNESDAY THE FIRST DAY OF DECEMBER TWO THOUSAND AND TEN PRESENT THE HON’BLE MS. JUSTICE G. ROHINI *** COMPANY APPLICATION No. 1460 of 2010 IN COMPANY PETITION NO. 9 7 OF 2006 M/s. Raksha Plantations Pvt. Ltd., (In Liquidation) Represented by the Official Liquidator, High Court of Andhra Pradesh Hyderabad. … Applicant The Court made the following order : (Order follows 2nd page) THE HON’BLE Ms. JUSTICE G. ROHINI COMPANY APPLICATION No.1460 OF 2010 IN COMPANY PETITION NO.97 OF 2006 ORDER : This application is filed by the Official Liquidator attached to this Court representing M/s. Raksha Plantations Private Limited, the company in liquidation, seeking appointment of a Chartered Accountant for verification of the Books of Accounts and other records of the said company. M/s. Raksha Plantations Private Limited was wound up by order dated 5.1.2007 made by this Court in C.P.No.97 of 2006 and pursuant thereto the Official Liquidator attached to this Court, who was appointed as Liquidator, had taken possession of the Books of Accounts and records as well as other assets of the company in liquidation. Subsequently the Ex. Directors of the Company in liquidation field the statement of affairs of the company and it appeared from a perusal of the same that there was diversion of properties/funds of the company to the third parties illegally and the records were not maintained properly in accordance with the Companies Act, 1956. Hence the present application by the Official Liquidator stating that it is necessary to verify the affairs of the company in liquidation to find out any act of misfeasance or breach of trust conducted by the Ex. Management of the company in liquidation so as to enable the office of the Official Liquidator to file necessary application as required under Sections 542 and 543 of the Companies Act against the erstwhile management who are responsible to recoup the loss caused to the company in liquidation. Heard Sri M. Anil Kumar, the learned counsel representing the Official Liquidator. Having regard to the facts and circumstances explained in the affidavit filed in support of the application expressing an apprehension that there was diversion of properties / funds of the company in liquidation, I am satisfied that there is need for verification of the Books of Accounts and other records of the company in liquidation to find out any act of misfeasance or breach of trust conducted by the erstwhile management. Accordingly, the application is allowed as prayed for appointing Sri P. Mohan Rao, Chartered Accountant, 8-3-320/1/16, Behind Saradhi Studio, Yellareddyguda, Ameerpet, Hyderabad-500 073 for verification of the Books of Accounts and records of the company in liquidation. The fee of the Chartered Accountant is fixed at Rs.30,000/- and the Official Liquidator is permitted to pay the same from the funds of the Estate and Establishment maintained by the Official Liquidator, making it clear that the same shall be recouped from the sale proceeds of the company in liquidation. The above exercise shall be completed within a period of two months from the date of receipt of a copy of this order. The application is accordingly ordered. ____________ G. ROHINI, J. Dt. 01.12.2010 ISL + GBS THE HONOURABLE MS. JUSTICE G. ROHINI COMPANY APPLICATION No. 1460 OF 2010 01-12-2010 I s L