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Chennai: The Economic Offences Wing (EOW), Tamil Nadu, has announced an e-tender-cum-e-auction of 19 immovable properties belonging to defaulted financial establishment Neomax Properties Pvt. Ltd. and its sister concerns .
The sale is being conducted under the monitoring of the Hon'ble High Court and will be carried out through the MSTC e-auction portal . Interested bidders must register on MSTC and deposit the applicable pre-bid EMD to participate in the auction.
The properties include commercial buildings, residential properties, barren land, hospital premises, petrol-bulk land and plots spread across Madurai, Sivaganga, Virudhunagar, Dindigul, Perambalur, Thoothukudi, Chengalpattu and Tiruchirappalli districts.
According to the EOW notice, the site inspection and document verification period is scheduled from September 1 to September 24, 2026 .
Assistance to bidders for registration on the MSTC portal will be provided from September 7 to September 25, 2026 .
The e-auction is scheduled for September 29, 2026, from 10:30 AM to September 30, 2026 , with the auction subject to the applicable MSTC terms. The notice specifies that auto-extension will be applicable and the minimum incremental bid value is Rs 10,000 .
| Particular | Details |
|---|---|
| Auction authority | Economic Offences Wing, Tamil Nadu |
| Properties | Neomax Properties Pvt. Ltd. and sister concerns |
| Auction mode | E-Tender cum E-Auction |
| Auction platform | MSTC |
| Site inspection/document verification | September 1–24, 2026 |
| MSTC registration assistance | September 7–25, 2026 |
| Auction | September 29–30, 2026 |
| Minimum bid increment | Rs 10,000 |
| Auction Notice | Advertisement Details |
The EOW has listed 19 properties in the auction notice. Their locations and upset prices are as follows:
| No. | Property | Location | Upset Price | Pre-Bid EMD |
|---|---|---|---|---|
| 1 | Muthukumar House | Devakottai Town | Rs 6,45,63,569 | Rs 64,56,357 |
| 2 | Charles House | Kayavayal, Sivaganga | Rs 5,65,22,990 | Rs 56,52,299 |
| 3 | Charles Sports Academy | Sadayankadu, Sivaganga | Rs 22,16,49,419 | Rs 2,21,64,942 |
| 4 | Charlesh Marriage Hall | Meikaraikudi, Sivaganga | Rs 7,45,61,310 | Rs 74,56,131 |
| 5 | Virudhunagar Petrol Bulk (Land with Building) | Vaipoottanpatti Village, Virudhunagar | Rs 4,38,20,157 | Rs 43,82,016 |
| 6 | Kodaikanal Property | Vadakavunji Village, Dindigul | Rs 5,47,61,250 | Rs 54,76,125 |
| 7 | Perambalur Barren Land | Senkulam Village, Perambalur | Rs 6,25,00,000 | Rs 62,50,000 |
| 8 | Virudhunagar Barren Land 1 | Vaipoottanpatti, Virudhunagar | Rs 1,80,00,000 | Rs 18,00,000 |
| 9 | Virudhunagar Barren Land 2 | Vaipoottanpatti, Virudhunagar | Rs 1,22,89,063 | Rs 12,28,906 |
| 10 | Villisery Barren Lands | Thoothukudi district | Rs 220 crore | Rs 22 crore |
| 11 | Plot, Kochadai | Madurai West, Madurai | Rs 2.80 crore | Rs 28 lakh |
| 12 | Plot, Kochadai | Madurai West, Madurai | Rs 94 lakh | Rs 9.40 lakh |
| 13 | Plot, Kochadai | Madurai West, Madurai | Rs 4.60 crore | Rs 46 lakh |
| 14 | Plot, Kochadai | Madurai West, Madurai | Rs 4.40 crore | Rs 44 lakh |
| 15 | Kenmax Hospitals Building | Madakulam, Madurai | Rs 24 crore | Rs 2.40 crore |
| 16 | Barren Land | Kallapiranpuram, Neikuppi, Malaivaryavur & Moosivakkam, Chengalpattu | Rs 280 crore | Rs 28 crore |
| 17 | Barren Land | Akkavayal, Ilayankudi, Sivaganga | Rs 1.76 crore | Rs 17.60 lakh |
| 18 | Barren Land | Sooranam, Ilayankudi, Sivaganga | Rs 30 lakh | Rs 3 lakh |
| 19 | Barren Land | Sannamangalam, Manachanallur, Tiruchirappalli | Rs 80 crore | Rs 8 crore |
Note: The Virudhunagar petrol bulk property is leased to IOCL , and the sale will be subject to the rights of the lessee.
The auction notice contains different land parcels and built-up areas. The listed property details include:
Bidders should refer to the official MSTC auction catalogue and EOW documents for the exact property-wise land extent, built-up area, title documents and other conditions before placing bids.
Interested participants need to register on the MSTC e-auction portal and complete the required bidder formalities.
The pre-bid EMD must be deposited well in advance in accordance with the MSTC auction catalogue requirements.
However, eligible Neomax depositors who qualify for exemption from the pre-bid EMD can participate without depositing the pre-bid EMD, subject to their eligibility. The EOW has stated that such depositors can check their exemption status in the Excel sheet uploaded on the EOW website .
The auction does not mean that the highest bid automatically becomes the final sale.
After the bidding process is completed, the successful bids identified by MSTC will be placed before the Court for confirmation .
The Court has the right to confirm or reject a bid based on the adequacy of the price or other relevant considerations. If a bid is rejected, the EMD will be returned to the concerned participant.
Once the auction sale is confirmed, successful bidders must deposit the entire sale consideration within 10 days from the date of confirmation .
Failure to make the required payment within the stipulated period will result in forfeiture of the EMD , according to the EOW notice.
Eligible Neomax depositors who are permitted to bid without pre-bid EMD will be governed by the applicable auction conditions.
The EOW has clarified that the properties will be auctioned on an 'as is where is' basis , based on the title deeds available on record.
It is the responsibility of bidders to independently satisfy themselves regarding the title, physical condition, land extent, built-up area and other property details before participating.
Bidders are therefore advised to conduct the prescribed site inspection and document verification and make their own assessment before submitting a bid.
For property inspection and queries, bidders can contact the Economic Offences Wing at:
Phone: 9080381065 / 8778245559
Email: [email protected]
For MSTC registration and auction assistance:
MSTC Helpdesk: 9499054101 / 102 / 103 / 104
Timing: 10:30 AM to 5 PM on working days
Email: [email protected]
Bidders can access the MSTC platform at mstcecommerce.com and the MSTC website at mstcindia.co.in .
The EOW notice was issued from Chennai on August 29, 2026 , by the Competent Authority/Superintendent of Police, EOW, South Zone.
Before participating in the Tamil Nadu EOW Neomax property auction , bidders should carefully verify:
The 19-property Neomax auction offers a mix of houses, commercial buildings, plots and large land parcels across several Tamil Nadu districts. However, prospective buyers should complete their due diligence and review the official auction documents before making any financial commitment.
Under the supervision of the Madras High Court , the re-auction of 7,954 DTCP-approved plots belonging to Neomax Properties Private Limited and its associate companies has been announced through the MSTC e-auction portal . The online auction is being conducted following the directions issued by the High Court in O.S.A. (MD) No. 15498/2024 and the connected cases.
NOTICE
According to the official press release, a total of 9,935 DTCP-approved plots were originally offered for sale through the MSTC e-commerce portal during the e-auction held between March 17, 2026, and May 15, 2026 .
Out of these, 1,981 plots were successfully auctioned , while 7,954 plots remained unsold .
To facilitate the sale of the remaining properties, a fresh e-auction has now been scheduled from May 25, 2026, to July 2, 2026 . Interested buyers can participate in the auction by registering and submitting bids through the official MSTC e-auction website .
The authorities have also issued helpline numbers for bidders facing any technical issues or auction-related queries during the bidding process. Participants may contact the MSTC officials at:
Officials have appealed to investors, members of the public, and all interested buyers to register on the MSTC portal and actively participate in the High Court-monitored online auction.
The auction is expected to provide another opportunity for individuals seeking DTCP-approved plots through a transparent and court-supervised e-auction process.
Chennai: In a major relief to investors and depositors, the Madras High Court has ensured strong safeguards and flexibility in the ongoing e-auction of DTCP-approved plots belonging to Neomax Properties Private Limited and its subsidiary firms.
As per court orders dated April 6, 2024 in Crl.O.P. (MD) No. 15498/2024 and connected cases , the e-auction process , hosted on the MSTC platform, has been underway since March 17, 2026 .
The auction for plots located in Aaliyur, Thiruvarur district , which was earlier scheduled for April 23, 2026 , has now been rescheduled to May 15, 2026 , in view of the upcoming Assembly Elections .
The High Court has introduced investor-friendly concessions to protect the interests of aggrieved depositors:
The Court clarified that these concessions aim to ensure that participation in the auction itself serves as a final resolution mechanism for affected depositors seeking compensation.
Technical Support & Participation
Participants facing technical issues or queries can contact MSTC helpline numbers: 9499054101, 9499054102 .
The court-supervised e-auction invites both aggrieved depositors and the general public to register anytime on the MSTC e-commerce platform and take part in the auction.
official notice
CHENNAI: The Economic Offences Wing of Tamil Nadu has announced the e-auction of over 10,000 DTCP-approved residential plots attached to the defaulted financial establishment Neomax Properties Pvt. Ltd. and its group entities.
The auction is being conducted under the supervision of the Madras High Court, in connection with ongoing proceedings aimed at recovering funds linked to the case.
OFFICIAL NOTICE
https://tneow.tn.gov.in/NEO_Max_Depositors_List.html
According to officials, the properties are distributed across 29 projects in multiple districts , including Virudhunagar, Madurai, Theni, Tirunelveli, and Thoothukudi.
The total number of plots is estimated at 10,158 , though authorities have clarified that the figures are indicative.
Among the larger layouts are:
Virudhunagar Block B with 3,214 plots
Nellai Thunai Nagaram (Tirunelveli) with 1,925 plots
Okkur (Sivagangai district) with 1,228 plots
The e-auction will be conducted through the portal of MSTC Limited.
Inspection and document verification: March 2–13, 2026
Online registration begins: March 5, 2026
Facilitation support for bidders (Madurai): March 9–11, 2026
Auction period: March 17 to May 14, 2026
Timings: 10.30 a.m. to 5.00 p.m. on working days
No auctions will be conducted on Sundays, government holidays, or second and fourth Saturdays.
ALSO CHECK TamilNadu E-Auction Properties
Officials stated that the properties will be offered on an “as is where is” basis , and bidders are expected to satisfy themselves regarding title and physical characteristics prior to participation.
Earnest Money Deposit (EMD) is required in advance, except for eligible depositors
Around 300 plots are expected to be auctioned per day
Minimum bid increment: ₹10,000
The highest bids will be subject to confirmation by the Court. In cases where bids are not approved, the EMD will be refunded.
Successful bidders will be required to remit the full amount within 10 days of confirmation , failing which the deposit may be forfeited.
The EOW has advised prospective participants to:
Undertake independent verification of land titles
Make use of the inspection window prior to bidding
Check eligibility criteria for EMD exemptions , where applicable
The proposed auction is among the more extensive exercises undertaken by the State in recent years to dispose of attached properties in financial fraud cases. Officials indicated that the process is intended to ensure transparent recovery and redistribution of assets under judicial oversight , while also opening up opportunities for public participation in the acquisition of residential plots.
