The Official Liquidator of M/S.Kanna Industries Limited (In Liquidation), v. Tamilnadu Small Industries Development

ORDER This Company Application has been filed seeking for the following reliefs:- "a)To take this report on record. b) To permit the Official Liquidator to engage the services of Income Tax approved Panel valuer viz., M/s.ITCOT or any other registered valuers to value the movable and immovable asset belonging to the subject company in liquidation measuring an extent of 3.41 Acres of land situated at Plot No.5 and 6, SIDCO Industrial Estate, Mettur Dam, Salem-636 402. c) To permit the Official Liquidator to meet the expenses in connection with the valuation of said asset from the Common Pool Fund Account and recoup the same upon realization of the assets of the company in the liquidation. d)To meet the cost of this application from the funds of the company in liquidation." Page3 of 4

¶2I have perused the contents of the Report filed by the Official Liquidator upon which the application had been made before this Court and having been satisfied with the reasons stated therein, I am inclined to allow this application as prayed for.

¶3In fine, this Application is ordered as prayed for. 24-07-2026 Index: Yes/No Speaking/Non-speaking order kak To

¶1Tamilnadu Small Industries Development Corporation Limited (TNSIDCO), Industrial Estate, Five Road, Salem-636004. also at, SIDCO, Thiru-Vi-Ka-Industrial Estate, Chennai-600032.

¶2The TamilNadu Industrial Investment Corporation Ltd(TIIC), No.692, Anna Salai, Nandanam, Chennai-600035. COMP.AoNo.o176oofo2026 K.KUMARESHoBABU,oJ. kak COMP.AoNo.o176oofo2026 IN CPoNO.o222oOFo2004 24-07-2026 Page4oofo4

Page1 of 4 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 24-07-2026 CORAM THE HON'BLE MR.JUSTICE K.KUMARESH BABU IN CP NO. 222 OF 2004 The Official Liquidator High Court, Madras as the Liquidator of M/s.Kanna Industries Limited (In liquidation), 2nd Floor, Corporate Bhawan, No.29, Rajaji Salai, Chennai-600001 ..Petitioner(s) Vs 1. Tamilnadu Small Industries Development Corporation Limited (TNSIDCO), Industrial Estate, Five Road, Salem-636004 also at, SIDCO, Thiru-Vi-Ka-Industrial Estate, Chennai-600032. 2. The TamilNadu Industrial Investment Corporation Ltd(TIIC), No.692, Anna Salai, Nandanam, Chennai-600035. ..Respondent(s) Judge's Summons filed under Section 457 & 460(4) of the Companies Act, 1956 read with Rule 9, 11(b) of the Companies (Court) Rules, 1959, for the following reliefs:- a)To take this report on record. b) To permit the Official Liquidator to engage the services of Income Tax approved Panel valuer viz., M/s.ITCOT or any other registered valuers to value the movable and immovable asset belonging to the subject company in Page2 of 4 liquidation measuring an extent of 3.41 Acres of land situated at Plot No.5 and 6, SIDCO Industrial Estate, Mettur Dam, Salem-636 402. c) To permit the Official Liquidator to meet the expenses in connection with the valuation of said asset from the Common Pool Fund Account and recoup the same upon realization of the assets of the company in the liquidation. d)To meet the cost of this application from the funds of the company in liquidation. For Petitioner(s): Ms.B.Ambili Deputy Official Liquidator of High Court, Madras