| Mumbai |
December 11, 2020 2:00:09 am
The UK subsidiary of the Punjab Nationwide Financial institution (PNB) has moved the Nationwide Firm Regulation Tribunal (NCLT) towards Topsgrup Companies and Options Restricted looking for to provoke chapter proceedings beneath Part 7 of the Insolvency and Chapter Code, because it has defaulted on mortgage compensation of over 13 million kilos (about Rs 134 crore).
Topsgrup Companies has come beneath the scanner of the Enforcement Directorate (ED) that’s investigating a cash laundering case towards its promoters, just a few associated events and Shiv Sena MLA Pratap Sarnaik.
The tribunal on Thursday stated that Topsgrup Companies has not responded to the discover served on November 22 by Punjab Nationwide Financial institution Worldwide Ltd .
The court docket stated if Topsgrup Companies doesn’t reply by December 22, it can move an order within the chapter case after listening to the UK subsidiary.
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