Audit fees: specified scale on amounts brought to credit and disbursements payable to auditors and charged to liquidation accounts. Rule 304 prescribes that audit fees, payable to the auditor and debited to the liquidation account, are calculated on a specified scale applied to the gross amount brought to credit (including calls on contributories, interest and rents) after deducting amounts spent carrying on the business and amounts paid by the Official Liquidator to secured creditors other than debenture holders; a corresponding fee applies to disbursements except payments to secured creditors not being debenture holders. When the audit is by the Examiner of Local Funds Accounts, such fees are payable into the public account of India to the credit of the State Government.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Audit fees: specified scale on amounts brought to credit and disbursements payable to auditors and charged to liquidation accounts.
Rule 304 prescribes that audit fees, payable to the auditor and debited to the liquidation account, are calculated on a specified scale applied to the gross amount brought to credit (including calls on contributories, interest and rents) after deducting amounts spent carrying on the business and amounts paid by the Official Liquidator to secured creditors other than debenture holders; a corresponding fee applies to disbursements except payments to secured creditors not being debenture holders. When the audit is by the Examiner of Local Funds Accounts, such fees are payable into the public account of India to the credit of the State Government.
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