Legal Principles Governing Valuer Remuneration, Fee Ceilings, and Discharge of Court Receivers

sketch of the Bombay High Court
Case
M/S. KUBER MUTUAL BENEFIT LTD. and ORS. v. THE STATE OF MAHARASHTRA (Bombay High Court, 03-09-2026)
Law
Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, Code of Civil Procedure, Companies Act.

Highlights of the Judgment:

  • Interpretation of 1994 High Court Guidelines for Valuers versus subsequent 1999 and 2007 iterations.
  • Determination of whether prior sanction for fees exceeding statutory ceilings is required before appointment or before payment.
  • Application of fee caps separately to distinct properties rather than collectively.
  • Legal principles governing simple interest awards on unpaid professional fees.
  • Rejection of inflation-linked multiplier claims to prevent overlapping compensation alongside interest.
  • Standards for discharging a Court Receiver when accounts are depleted and funds are unavailable.
  • Refusal to impose personal liability on third parties without substantive pleadings or evidence.