The Official Liquidator, High Court, Madras, v. nil
Case brief
What is this about?
Recognition of purchaser's title on payment in company liquidation; Maxworth Orchards (India) Limited in provisional liquidation, C.P.No.57 of 1998; Official Liquidator, High Court, Madras; SEI Kathiravan Power Private Limited; sale certificate dispensed with; auction sale notice dated 05.05.2022; 186.175 acres, Koothanarkottai (Koothamankottai) Village, Tiruchulli Taluk, Virudhunagar District; Judge's summons under Order XIV Rule 8 O.S.Rules; Sections 446(2), 450, 456, 457 Company's Act; Rules 9, 11(b) Companies (Court) Rules 1959; Demand Draft No.643080 Rs.4,25,00,000; upset price Rs.1,03,71,064 Max-Thiruculli-II Project; disposal without costs.
What did the court decide?
Receipt of Rs.4,25,00,000/- recorded; title of the applicant in Comp.A.Nos.209 to 211 of 2022 recognised over 186.175 acres at Koothanarkottai Village instead of execution of a sale certificate; auction sale under notice dated 05.05.2022 dispensed with; Comp.A.Nos.149, 209 to 211 of 2022 & 714 to 717 of 2011 disposed of on the above terms without any order as to costs.