Authority: National Company Law Tribunal Kochi Bench (Shri Vinay Goel, Member Judicial; Shri Ravichandran Ramasamy, Member Technical)
Order Date: 12 June 2026
Case Overview
The application was filed by the Liquidator, Mr. Renahan Vamakesan, in the matter of M/s. Axiomata Elevators Pvt Ltd, against respondents Anish Lawrence and another. The liquidator sought permission to attach and conduct a private sale of three vehicles with registration numbers KL 07CS 8623, KL07CD 1766, and KL 07BN 9984 to realize amounts due from the respondents. Respondents, through their counsel, had no objection to the sale but requested an opportunity to purchase the vehicles at the price settled with third parties or to bring purchasers offering higher prices.
Final Outcome
The NCLT allowed the prayer for private sale of the vehicles, subject to conditions. The liquidator must comply with the prescribed procedures for private sale, except obtaining a fresh valuation. The liquidator must communicate the agreed price with third-party purchasers to the respondents and grant them at least seven days to either purchase the vehicles at that price or procure a purchaser willing to offer a higher consideration. The application was disposed of accordingly.
Topics: Insolvency Proceedings, Asset Sale, NCLT Order