COMP.A No. 120 of 2026 __________ Page1 of 2 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 03-07-2026 CORAM THE HON'BLE MR.JUSTICE K.KUMARESH BABU COMP.A No. 120 of 2026 in CP NO. 287 of 2009 The Official Liquidator High Court, Madras as the liquidator of M/s.Paramount Airways Private Limited, Corporate Bhavan, IInd Floor, No.29, Rajaji Salai, Chennai - 600001 ..Applicant Vs Nil ..Respondent Company Application filed under Section 460(4) of the Companies Act, 1956 read with Rules 9,11(b) of Companies (Court) Rule, 1959, for the following reliefs: 1)to ratify action of the Official Liquidator in engaging services of ITCOT for valuation in this matter. 2) To take valuation report submitted by ITCOT on record. 3) To open the valuation report submitted by ITCOT, fix the upset price and pass further orders regarding disposal of the assets. 4) To pay valuation charges at actuals, upon receipt of bills/invoices from ITCOT from the funds of company in liquidation 5) to direct the cost of this application do come out of funds of the company in liquidation For Applicant : Ms.B.Ambili, Deputy Official Liquidator https://www.mhc.tn.gov.in/judis COMP.A No. 120 of 2026 __________ Page2 of 2 K.KUMARESH BABU J. mp ORDER This Company Application has been filed seeking for the following reliefs:- 1)to ratify action of the Official Liquidator in engaging services of ITCOT for valuation in this matter. 2) To take valuation report submitted by ITCOT on record. 3) To open the valuation report submitted by ITCOT, fix the upset price and pass further orders regarding disposal of the assets. 4) To pay valuation charges at actuals, upon receipt of bills/invoices from ITCOT from the funds of company in liquidation 5) to direct the cost of this application do come out of funds of the company in liquidation 2. Heard Ms.B.Ambili, learned Deputy Official Liquidator. 3. The valuation conducted by ITCOT is hereby placed on record. The upset price shall be fixed based on the said report. 4. In fine, this Application is ordered as prayed for. 03-07-2026 mp COMP.A No. 120 of 2026 in CP NO. 287 of 2009 https://www.mhc.tn.gov.in/judis