Official liquidator directed to undertake valuation of disputed property through ITCOT

Team Associates Vs Official Liquidator (Madras High Court) Madras High Court held that, in case of disputed question of title over property sold during liquidation process, the official liquidator is directed to undertake and complete valuation of disputed property through ITCOT within 60 days so as to enable the applicants to make payment towards the same. Facts- 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 ali...