Madhya Pradesh High Court
In Ref.M/S Tri Star Soya Products Ltd. vs Ref.Received From Bifr, New Delhi on 14 October, 2025
1 COMP-11-2003
IN THE HIGH COURT OF MADHYA PRADESH
AT INDORE
COMP No. 11 of 2003
(IN REF.M/S TRI STAR SOYA PRODUCTS LTD. Vs REF.RECEIVED FROM BIFR, NEW DELHI ) Dated : 14-10-2025 Shri H.Y. Mehta, learned standing counsel for the Official Liquidator with Shri S.N. Tiwari, learned Official Liquidator.
Heard on OLR No.29/2024.
This Court vide order dated 22.01.2024 has permitted the official liquidator to get the property valued by conducting joint proceedings in coordination with OL of Rajasthan to get the maximum valuation of the property of the company under liquidation.
Learned OL submits that by way of this application and in compliance of the aforesaid order, M/s. Lalit Kale & Associates was directed to carryout valuation of assets/property i.e. Flat No.601 & 602, Chetak Centre, 12/2, RNT Marg, Indore.
Pursuant to which, the said agency has conducted the valuation of the property and the valuation report has been provided to OL in sealed-envelops for each of the properties.
The learned OL has requested for opening of the envelops provided by the agency.
In view of the fact that Block No.601 and 602, Chetak Centre, 12/2, RNT Marg, Indore belong to M/s. Tristar Soya Products Ltd. (in liquidation) and Block Nos.603 to 606 belong to M/s. Mansinghka Oil Products Ltd. (in liquidation), a separate as well as joint valuation of the entire property was Signature Not Verified Signed by: NARENDRA KUMAR RAIPURIA Signing time: 14-10-2025 19:24:29 2 COMP-11-2003 decided to be carried out. Accordingly, the valuation has been submitted by the valuer thereby joint value of the property i.e. Flat Nos.601 to 606 of 6th Floor of the aforesaid building has been assessed as under:-
Fair Value : Rs.2,03,42,000/-
Estimated Realizable Value : Rs.1,83,08,000/-
Estimated Distress Sale Value : Rs.1,62,74,000/-
The separate value of Block No.601 and 602 has been assessed as under:-
Fair Value : Rs.54,90,000/-
Estimated Realizable Value : Rs.49,41,000/-
Estimated Distress Sale Value : Rs.43,92,000/-
A copy of each of the valuation report is provided to learned OL with a direction to provide the same to each and every stakeholder who comes asking for the same and all the stakeholders are at liberty to file their respective objections against the valuation report.
List the matter for further consideration on OLR No.29/2024 after 3 weeks.
(PAVAN KUMAR DWIVEDI) JUDGE N.R. Signature Not Verified Signed by: NARENDRA KUMAR RAIPURIA Signing time: 14-10-2025 19:24:29