The Office Of The Official Liquidator, v. Nil

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 25.04.2025

CORAM

THE HONOURABLE MR.JUSTICE SENTHILKUMAR RAMAMOORTHY Comp.A.No.91 of 2025 in C.P.No.54 of 2015 The Office of the Official Liquidator, High Court of Madras, As a Provisional Liquidator of M/s.Achievers Agri India (p)Ltd, (In Provisional Liquidation) No.29,Rajaji Salai,Corporate Bhawan, 2nd Floor,Chennai-600001.

... Applicant For Applicant : Ms.B.Ambili, Deputy Official Liquidator **********

ORDER

This application has been filed by the Official Liquidator seeking relief in respect of two schools operated by the company in provisional liquidation. A report dated 27.03.2025 has been filed in support of the application. As regards The Achievers Academy MHSS, Sungarahalli, Dharmapuri, the Official Liquidator states that the school was sold in October 2023 pursuant to order dated 10.08.2023. She also submits that the 1/4

accounts were audited only up to 31.03.2023. Therefore, she seeks permission to audit the accounts from 01.04.2023 to 17.10.2023, i.e, until closure of the school. As regards The Achievers Academy MHSS, Hosur, she points out that Mr.R.Balachandran, Chartered Accountant, audited the accounts. It is further stated that a sum of Rs.35,400/- is payable to the auditor as per the fees fixed earlier. A copy of the audit report and the financial statements for the year 2023-24 along with the tax invoice have been annexed to the report.

2. By referring to Annexure-A to the Chartered Accountant's report, the Official Liquidator points out that it is observed therein that provident fund was not deducted for some staff members and that the school building was not insured. The suggestion of the Chartered Accountant to register the school under Section 12A of the Income Tax Act so as to avail of the exemption for a charitable / educational institution is also highlighted by the Official Liquidator.

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3. Upon considering the aforesaid, this application is liable to be allowed. Consequently, the application is allowed by granting prayers (b) to (g) of the judge's summons.

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SENTHILKUMAR RAMAMOORTHY,J rna Comp.A.No.91 of 2025 in C.P.No.54 of 2015 25.04.2025 4/4