Madrasdated High Court · 2025
Case Details
COMP.A No. 256 of 2025enclosed as Annexure-D and E of this report. e). Permit the Official Liquidator to approve the proposed scheduled dates as mentioned in para No.9. f). Permit the Official Liquidator to fix Rs.2,500 as e-auction participation charges as mentioned in para No.10. g). Permit Official Liquidator to publish the Sale Notice in newspapers viz., Times of India Tamil nadu edition in English and Tamil daily in Dinamalar. h). Permit the Official Liquidator to cause publication of Sale Notice and Terms Condition in the website of MCA and MSTC Limited. i). Permit the Official Liquidator to place the successful bidder report before this Hon'ble Court for orders regarding Sale Confirmation. j). Permit the Official Liquidator to make the payment of charges to the selling agency as stipulated in clause (v) of Ministry's letter dated 22.07.2025, if any. k). Permit the Official Liquidator to incur any other the costs in connection with the sale of above mentioned property from and out of the funds of the company in liquidation. For Applicant(s):Ms.B.AmbiliDeputy Official LiquidatorHigh Court Madras.ORDERThis Application has been filed by the Official Liquidator for the following reliefs:-a.To take this report on record.b.To permit the Official Liquidator to sell the land property belonging to the company (in Liquidation) i.e., 7.40 Acres in Survey Nos.38/2A2, 40/2C, 40/3B1B, 40/4, 40/5C2 and 40/6A viz., situated at SIV Workers Quarters, Sirumugai Village, Mettupalayam Taluk, Coimbatore District through e-auction by engaging services of M/s. https://www.mhc.tn.gov.in/judis COMP.A No. 256 of 2025MSTC Limited by creating a unique Auction ID in the Auction Creation tab on the e-auction portal. c. Permit the Official Liquidator to show the Upset Price and EMD as ordered by this Hon'ble Court dated 29.08.2025 at Annexure-B. d. Approve the draft e-auction Sale Notice and Terms and Conditions of sale which are enclosed as Annexure-D and E of this report. e. Permit the Official Liquidator to approve the proposed scheduled dates as mentioned in para No.9. f. Permit the Official Liquidator to fix Rs.2,500/- as e-auction participation charges as mentioned in para No.10. g. Permit the Official Liquidator to publish the Sale Notice in newspapers namely Times of India Tamil nadu edition in English and Tamil daily in Dinamalar. h. Permit the Official Liquidator to cause publication of Sale Notice and Terms and Condition in the website of MCA and MSTC Limited. i. Permit the Official Liquidator to place the successful bidder report before this Honble Court for orders regarding Sale Confirmation. j. Permit the Official Liquidator to make payment of charges https://www.mhc.tn.gov.in/judis COMP.A No. 256 of 2025to the selling agency as stipulated in clause (v) of Ministry's letter dated 22.07.2025. k. Permit the Official Liquidator to incur any other the costs in connection with the sale of above mentioned property from and out of the funds of the company in liquidation.2. The learned Official Liquidator makes it clear that there was no stay granted by the Division Bench of this Court in OSA.No.321 of 2025 challenging the order by this Court in Company Application No.581 of 2023 in CP.No.17 of 2007 dated 19.09.2025.3. Accordingly, this Application is ordered as prayed for. The learned Official Liquidator is directed to proceed for e-auction.26-09-2025kmi https://www.mhc.tn.gov.in/judis COMP.A No. 256 of 2025N.SENTHILKUMAR J.kmiCOMP.A No. 256 of 2025IN CP NO. 17 of 200426-09-2025
COMP.A No. 256 of 2025enclosed as Annexure-D and E of this report. e). Permit the Official Liquidator to approve the proposed scheduled dates as mentioned in para No.9. f). Permit the Official Liquidator to fix Rs.2,500 as e-auction participation charges as mentioned in para No.10. g). Permit Official Liquidator to publish the Sale Notice in newspapers viz., Times of India Tamil nadu edition in English and Tamil daily in Dinamalar. h). Permit the Official Liquidator to cause publication of Sale Notice and Terms Condition in the website of MCA and MSTC Limited. i). Permit the Official Liquidator to place the successful bidder report before this Hon'ble Court for orders regarding Sale Confirmation. j). Permit the Official Liquidator to make the payment of charges to the selling agency as stipulated in clause (v) of Ministry's letter dated 22.07.2025, if any. k). Permit the Official Liquidator to incur any other the costs in connection with the sale of above mentioned property from and out of the funds of the company in liquidation. For Applicant(s):Ms.B.AmbiliDeputy Official LiquidatorHigh Court Madras.ORDERThis Application has been filed by the Official Liquidator for the following reliefs:-a.To take this report on record.b.To permit the Official Liquidator to sell the land property belonging to the company (in Liquidation) i.e., 7.40 Acres in Survey Nos.38/2A2, 40/2C, 40/3B1B, 40/4, 40/5C2 and 40/6A viz., situated at SIV Workers Quarters, Sirumugai Village, Mettupalayam Taluk, Coimbatore District through e-auction by engaging services of M/s. https://www.mhc.tn.gov.in/judis COMP.A No. 256 of 2025MSTC Limited by creating a unique Auction ID in the Auction Creation tab on the e-auction portal. c. Permit the Official Liquidator to show the Upset Price and EMD as ordered by this Hon'ble Court dated 29.08.2025 at Annexure-B. d. Approve the draft e-auction Sale Notice and Terms and Conditions of sale which are enclosed as Annexure-D and E of this report. e. Permit the Official Liquidator to approve the proposed scheduled dates as mentioned in para No.9. f. Permit the Official Liquidator to fix Rs.2,500/- as e-auction participation charges as mentioned in para No.10. g. Permit the Official Liquidator to publish the Sale Notice in newspapers namely Times of India Tamil nadu edition in English and Tamil daily in Dinamalar. h. Permit the Official Liquidator to cause publication of Sale Notice and Terms and Condition in the website of MCA and MSTC Limited. i. Permit the Official Liquidator to place the successful bidder report before this Honble Court for orders regarding Sale Confirmation. j. Permit the Official Liquidator to make payment of charges https://www.mhc.tn.gov.in/judis COMP.A No. 256 of 2025to the selling agency as stipulated in clause (v) of Ministry's letter dated 22.07.2025. k. Permit the Official Liquidator to incur any other the costs in connection with the sale of above mentioned property from and out of the funds of the company in liquidation.2. The learned Official Liquidator makes it clear that there was no stay granted by the Division Bench of this Court in OSA.No.321 of 2025 challenging the order by this Court in Company Application No.581 of 2023 in CP.No.17 of 2007 dated 19.09.2025.3. Accordingly, this Application is ordered as prayed for. The learned Official Liquidator is directed to proceed for e-auction.26-09-2025kmi https://www.mhc.tn.gov.in/judis COMP.A No. 256 of 2025N.SENTHILKUMAR J.kmiCOMP.A No. 256 of 2025IN CP NO. 17 of 200426-09-2025