In a recent case, the Madras High Court directsed the official liquidator to value the building through ITCOT within 60 days while a dispute over the ownership of property arose during the liquidation process under company law.
Sale notice dated 15.07.2012 was issued by the Official Liquidator for sale of six lots of property (Lot-A to Lot- F) of Pioneer Feeds & Poultry Products (P) Ltd., the company in provisional liquidation. Lot-E pertained inter alia to an extent of 4.79 acres of land in S.F.Nos.79/1, 79/2, 79/3 and 79/4 (corresponding to old Survey No.196 and Re-survey No.79) at Modachur Village, Gopi Taluk, Erode District, and forms the subject of these applications.
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