The Official Liquidator v. nil
Case brief
What is this about?
Madras High Court order dated 08.08.2025 by Justice Senthilkumar Ramamoorthy in Comp.A.No.174 of 2025 in C.P.No.57 of 1998: reserve price fixed at Rs.263.76 lakhs (distress sale value) for the Maxworth Vadamanapakkam project of M/s.Maxworth Orchards (India) Limited (in provisional liquidation), based on ITCOT Limited May 2025 valuation (fair market value Rs.376.80 lakhs; guideline value Rs.203.03 lakhs); Official Liquidator permitted to file separate e-auction application. Keywords: Official Liquidator, provisional liquidation, reserve price, distress sale value, guideline value, e-auction, valuation report, winding up.
What did the court decide?
Application allowed: reserve price fixed at Rs.263.76 lakhs (distress sale value) for the Maxworth Vadamanapakkam project, and the Official Liquidator is permitted to file a separate application for e-auction on that basis.