The Official Liquidator v. Nil

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 08.08.2025

CORAM

THE HONOURABLE MR.JUSTICE SENTHILKUMAR RAMAMOORTHY Comp.A.No.167 of 2025 in C.P.No.57 of 1998 The Official Liquidator, High Court of Madras, As Provisional Liquidator of M/s.Maxworth Orchards (India) Limited (In Provisional Liquidation) No.29, RajajiSalai, Corporate Bhawan, 2nd Floor, Chennai 600 001.

Mrs.D.Nagasaila Administrator of M/s.Maxworth Orchards (India) Limited (In Provisional Liquidation) New No.14/1, Old No.38/1, Akbarabad 2nd Street, Kodambakkam, Chennai 600 024.

... Applicants For Applicants : Ms.D.Nagasaila, Administrator Ms.B.Ambili, Deputy Official Liquidator **********

ORDER

As per the valuation report for the Maxworth Gangavaram project issued by ITCOT Limited in May 2025, the fair market value is estimated at 1/2 https://www.mhc.tn.gov.in/judis

SENTHILKUMAR RAMAMOORTHY,J rna Rs.460.44 lakhs and the distress sale value at Rs.322.31 lakhs. The guideline value is Rs.164.40 lakhs. Considering the totality of circumstances, including the limited availability of documents and the guideline value, it is appropriate to fix the reserve price at the distress sale value of Rs.322.31 lakhs. Accordingly, this application is allowed by fixing the reserve price at Rs.322.31 lakhs and by permitting the Official Liquidator to file a separate application for e-auction on that basis. 08.08.2025 rna Comp.A.No.167 of 2025 in C.P.No.57 of 1998 2/2 https://www.mhc.tn.gov.in/judis