The Official Liquidator v. nil
Case brief
What is this about?
Madras High Court; Senthilkumar Ramamoorthy, J.; decided 08.08.2025; Comp.A.No.173 of 2025 in C.P.No.57 of 1998; M/s.Maxworth Orchards (India) Limited (In Provisional Liquidation); applicants: Official Liquidator as Provisional Liquidator and Mrs.D.Nagasaila, Administrator; fixation of reserve price for Maxworth Kandaganapally project; ITCOT Limited valuation report June 2025; fair market value Rs.1818.65 lakhs; distress sale value Rs.1454.92 lakhs; guideline value Rs.1605.91 lakhs adopted as reserve price; Official Liquidator permitted to file separate e-auction application; application allowed.
What did the court decide?
Reserve price fixed at the guideline value of Rs.1605.91 lakhs for the Maxworth Kandaganapally project, and the Official Liquidator permitted to file a separate application for e-auction on that basis. ¶16