The Official Liquidator v. nil
Case brief
What is this about?
Madras High Court order dated 08.08.2025 by Senthilkumar Ramamoorthy, J. in Comp.A.No.163 of 2025 in C.P.No.57 of 1998: reserve price for the Maxworth Melnalli project of M/s.Maxworth Orchards (India) Limited (in provisional liquidation) fixed at Rs.897.79 lakhs (ITCOT Limited May 2025 fair market value); distress sale value Rs.718.24 lakhs; guideline value Rs.916.6 lakhs; Official Liquidator permitted to file separate e-auction application; application allowed. Keywords: Official Liquidator, Provisional Liquidator, Administrator, reserve price, valuation, e-auction, Maxworth Orchards, Maxworth Melnalli, ITCOT Limited.
What did the court decide?
Reserve price fixed at Rs.897.79 lakhs (fair market value per ITCOT Limited valuation); permission granted to the Official Liquidator to file a separate application for e-auction on that basis.