Timber World Resorts and Plantation (India) Limited (In Liquidation)

This document is an e-auction sale notice issued by the Official Liquidator of the Delhi High Court in the matter of Timber World Resorts and Plantation (India) Limited (In Liquidation). It invites prospective purchasers to participate in an auction for the sale of the company's assets and properties.

The sale is being conducted through MSTC Limited, the appointed selling agent, on an “As Is Where Is, Whatever There Is” basis. The auction is subject to the approval and confirmation of the Delhi High Court.

Assets put up for auction

The notice identifies three lots situated in the Amravati district of Maharashtra. Lot 1 comprises 3.64 hectares (8.994 acres) of land bearing Survey Nos. 7 and 8, situated at Mouza Pandharpur, Mauli (Jahangir), Amravati, with a reserve price of ₹62,96,000 and an Earnest Money Deposit (EMD) of ₹6,29,600. Lot 2 comprises 10.43 hectares (25.77 acres) of land bearing Khata/GAT No. 424, situated at Mouza Davargaon, Morshi, Amravati, with a reserve price of ₹4,12,32,000 and an EMD of ₹41,23,200. Lot 3 consists of teak trees situated at the Lot 2 location, with a reserve price of ₹20,75,000 and an EMD of ₹2,07,500. The reserve price represents the minimum amount at which bidding commences, while the EMD is the deposit that prospective bidders must pay to qualify for participation in the e-auction.

Auction schedule and participation

The notice provides the following important dates and requirements:

• Property inspection: 26 and 27 October 2026.
• Last date for online registration and EMD submission: 3 November 2026, by 5:00 PM.
• Date of e-auction: 6 November 2026.
• Auction platform: MSTC's e-auction portal.

Bid extension: If a bid is made during the final 10 minutes, the auction time is extended by another 10 minutes.

Interested bidders must complete registration with MSTC, comply with KYC requirements and deposit the EMD through the available online payment modes.

 Important terms and conditions

A. Sale on an “As Is Where Is, Whatever There Is” basis

The properties are being sold in their existing condition. Prospective purchasers must independently verify:

• Ownership and title of the property.
• Survey numbers, boundaries and actual area.
• Applicable statutory approvals and permissions.
• Outstanding statutory and other dues.

The Official Liquidator and MSTC disclaim responsibility for errors or omissions in the property particulars. The purchaser is expected to conduct due diligence before submitting a bid.

B. Responsibility of bidders

• Bidders are responsible for the bids submitted by them. They must verify the bid amount and other details before submission. Participation in the auction is treated as acceptance of the terms and conditions.

C. Confirmation of the highest bid

Being the highest bidder does not automatically create a right to purchase the property.

• The Official Liquidator must submit the auction results to the Delhi High Court.
• The Court may examine the adequacy of the bid in light of the valuation report and other relevant circumstances.
• The sale becomes confirmed only after the Court approves it and the purchaser deposits the entire approved sale consideration, along with applicable GST.

D. Payment obligations

The successful bidder must:

• Deposit 25% of the bid amount with the Official Liquidator within seven days of acceptance of the highest bid.
• Pay the remaining balance within 60 days of acceptance.
• Pay applicable GST over and above the approved bid amount.

Failure to make the required payments within the prescribed period may result in forfeiture of the EMD.

E. Possession and transfer

Possession of the property is handed over through a Possession Memo after payment of the full sale consideration. Execution of the sale deed or deed of assignment is subject to payment and confirmation of the sale by the Delhi High Court.

Role of the Delhi High Court and Official Liquidator

The document establishes an important distinction between conducting an auction and legally confirming a sale.

• The Official Liquidator administers the sale process, invites bids, coordinates the auction and submits the results to the Court.
• MSTC Limited acts as the service provider and selling agent responsible for conducting the e-auction.
• The Delhi High Court retains supervisory authority over the sale and decides whether the highest bid should be accepted.
• The Court also reserves the right to withdraw the sale or reject any offer, including the highest bid, without assigning reasons.

Legal and practical significance

The notice demonstrates how the assets of a company in liquidation may be realised through a court-supervised auction process.

Its important practical aspects include:

1. Judicial supervision of liquidation sales: The highest bid is not automatically binding. Final confirmation remains subject to the Court's approval.
2. Protection of the liquidation process: The Official Liquidator is responsible for conducting the sale and placing the auction results before the Court.
3. Due diligence by purchasers: The “As Is Where Is” condition places significant responsibility on bidders to verify title, boundaries, approvals and liabilities before bidding.
4. Financial accountability: EMD, security deposit, payment deadlines and forfeiture provisions ensure that successful bidders comply with their financial obligations.
5. Transparency in asset realisation: Competitive bidding through MSTC provides a structured mechanism for inviting offers and realising the company's assets.

Important observations and document limitations

There are two details worth verifying before relying on the notice operationally:

• The inspection timings differ between the published notice and the detailed sale notice.
• The auction closing time also appears inconsistent: the initial notice mentions 4:00 PM, while Schedule No. 2 mentions 5:00 PM.
• The live MSTC auction particulars and any subsequent addenda should therefore be checked before participation.

Further, this document does not contain the underlying order of the Delhi High Court authorising the sale, the valuation report, or the company's complete liquidation history. It should not be treated as proof of the Court's reasoning on those matters.

Conclusion

• The e-auction notice provides the procedural framework for the sale of three categories of assets belonging to Timber World Resorts and Plantation (India) Limited, which is undergoing liquidation. It sets out the reserve prices, EMD requirements, bidding procedure, payment obligations and conditions governing possession and confirmation of sale.
• The central feature is that the highest bid is subject to approval by the Delhi High Court. The auction is therefore not merely a private commercial transaction; it forms part of a court-supervised process for realising the assets of a company in liquidation.