The police have said that the economic offender, suspected to be hiding in Oman, hid facts about surrendering his Indian citizenship and acquiring a British citizenship in 2014.
NCLT admits insolvency proceedings against Tops Security
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Synopsis
Punjab National Bank (International) Ltd had on March 16 last year approached the tribunal seeking initiation of corporate insolvency resolution process against Topsgrup after its UK-based subsidiary The Shield Guarding Company allegedly defaulted on dues of over ₹136 crore.
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Shield Guarding s loans were declared a NPA in November 2015.
The Mumbai bench of the National Company Law Tribunal (NCLT) has admitted insolvency proceedings against Topsgrup Services and Solutions, popularly known as Tops Security.
The bench has also appointed chartered accountant Rajendra Karanmal Bhuta as interim resolution professional (IRP) to oversee the company’s day-to-day affairs and revival plans.
Bankruptcy court admits insolvency proceedings against Tops Security
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Synopsis
The Mumbai bench of the National Company Law Tribunal (NCLT) has also appointed chartered accountant Rajendra Karanmal Bhuta as interim resolution professional (IRP) to oversee the company’s day-to-day affairs and revival plans.
The Enforcement Directorate (ED) is currently investigating an alleged money laundering scam of about Rs 175 crore against Topsgrup Services promoter Rahul Nanda and some others.
The dedicated bankruptcy court has admitted insolvency proceedings against security services provider Topsgrup Services and Solutions, popularly known as Tops Security.
The Mumbai bench of the National Company Law Tribunal (NCLT) has also appointed chartered accountant Rajendra Karanmal Bhuta as interim resolution professional (IRP) to oversee the company’s day-to-day affairs and revival plans.