COMP.A No. 146 of 2026 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 03-07-2026 CORAM THE HON'BLE MR.JUSTICE K.KUMARESH BABU COMP.A No. 146 of 2026 in CP NO. 268 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. ..Petitioner(s) Vs Nil ..Respondent Company Application filed under Section 460(4) of the Companies Act, 1956 read with Rule 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.Ambili, Deputy Official Liquidator __________ Page1 of 4 https://www.mhc.tn.gov.in/judis COMP.A No. 146 of 2026 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 Official Liquidator is permitted to open the sealed report filed by ITCOT and fix the upset prize based upon the said report. Further, she is also permitted to take further action on the basis of the valuation report by filing a necessary application. __________ Page2 of 4 https://www.mhc.tn.gov.in/judis COMP.A No. 146 of 2026 4. In fine, this Application is ordered as prayed for. 03-07-2026 Index:Yes/No Speaking/Non-speaking order Neutral Citation: Yes/No mp __________ Page3 of 4 https://www.mhc.tn.gov.in/judis COMP.A No. 146 of 2026 K.KUMARESH BABU J. mp COMP.A No. 146 of 2026 in CP NO. 268 OF 2009 03-07-2026 __________ Page4 of 4 https://www.mhc.tn.gov.in/judis

COMP.A No. 146 of 2026 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 03-07-2026 CORAM THE HON'BLE MR.JUSTICE K.KUMARESH BABU COMP.A No. 146 of 2026 in CP NO. 268 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. ..Petitioner(s) Vs Nil ..Respondent Company Application filed under Section 460(4) of the Companies Act, 1956 read with Rule 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.Ambili, Deputy Official Liquidator __________ Page1 of 4 https://www.mhc.tn.gov.in/judis COMP.A No. 146 of 2026 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 Official Liquidator is permitted to open the sealed report filed by ITCOT and fix the upset prize based upon the said report. Further, she is also permitted to take further action on the basis of the valuation report by filing a necessary application. __________ Page2 of 4 https://www.mhc.tn.gov.in/judis COMP.A No. 146 of 2026 4. In fine, this Application is ordered as prayed for. 03-07-2026 Index:Yes/No Speaking/Non-speaking order Neutral Citation: Yes/No mp __________ Page3 of 4 https://www.mhc.tn.gov.in/judis COMP.A No. 146 of 2026 K.KUMARESH BABU J. mp COMP.A No. 146 of 2026 in CP NO. 268 OF 2009 03-07-2026 __________ Page4 of 4 https://www.mhc.tn.gov.in/judis