The Tamil Nadu Industrial Investment Corporation Ltd., v. The Official Liquidator, High Court, Madras

COMP.A. No.442 of 2019 in C.P.No.278 of 1997 P.T.ASHA.J, The above application is filed to permit the learned Official Liquidator to appoint IT Consultancy and Services Ltd (i) to value the properties of the Company in liquidation situated in S.F.No.535/A, 538B, Door No.3/2C, Nagammapudur, Sulur Taluk, Coimbatore (ii) to meet the expenses for the valuation and other incidental expenses and (ii) to incur expenses from the common pool fund and to recoup the same upon realisation of the assets, in the event of insufficiency of funds in the account of the company in liquidation.

2. Considering the request made, the application is allowed. ITCOT Consultancy and Services Litd is appointed as valuer to value the properties of the Company in Liquidation and to meet the expenses for valuation and other incidental expenses from the funds of the Company in Liquidation. It is also made clear that in the event of insufficiency of funds, the learned Official Liquidator may be permitted to incur the expenses from the common pool fund and to recoup the same once the assets are sold and the amounts are realised. 06.12.2019

srn P.T.ASHA.J, srn COMP.A. No.442 of 2019 in C.P.No.278 of 1997

06.12.2019