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Madras High CourtCOMP.A/3/2026allowed

The Official Liquidator v. Nill

2026-03-06Honourable Mr Justice Senthilkumar Ramamoorthy2 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 06-03-2026

CORAM

THE HON'BLE MR JUSTICE SENTHILKUMAR RAMAMOORTHY Comp.A.No. 3 of 2026 in C.P.No.153 of 2002 The Official Liquidator High Court, Madras as the Liquidator of M/s.Madurai Cements Ltd (in Liquidation), No.29, Rajaji Salai, Corporate Bhawan, II Floor, Chennai - 600 001.

..Applicant Prayer : Application is filed under Section 460(4) of the Companies Act, 1956 Read With Rules 9, 11(b) of the Companies (Court) Rules, 1959, (a) to take this report on record, (b) To permit the Official Liquidator to engage the services of a panel valuer viz., M/s.ITCOT Limited or some other approved valuer as directed by this Honourable Court to Survey and value the subject property extending to extent of 65.02 hectares (approximately) as mentioned in para-11, (c) To permit the Official Liquidator to make payment to M/s.ITCOT Limited or some other approved valuer at actuals towards the survey and Valuation expenses and (d) To permit the Official Liquidator to meet all the expenses in connection with valuation charges/expenses from and out of the funds of the Company in Liquidation.

For Applicant:

Ms. B. Ambili, Deputy Official Liquidator __________ https://www.mhc.tn.gov.in/judis

SENTHILKUMAR RAMAMOORTHY,J.

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ORDER

The Official Liquidator has sought permission to engage the services of ITCOT or any other approved valuer to value the property and undertake activities related thereto, such as survey. In support of the application, report dated 11.02.2026 has been filed. Details of the property sought to be surveyed and valued are set out in paragraph 11 of the report. The funds position of the company in liquidation as on 10.02.2026 is indicated in paragraph 12 thereof.

2. Considering the averments in the report, this application is liable to be and is hereby allowed in terms of remedies claimed in clauses (b), (c) and (d) of the Judge's summons. As regards the valuer, the Official Liquidator shall engage ITCOT.

06-03-2026 KJ Comp.A.No. 3 of 2026 in C.P.No.153 of 2002 __________ https://www.mhc.tn.gov.in/judis