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Bankruptcy Court admits Insolvency proceedings against Tops Security

Submitted by latestlaws on Sat, 03/06/2021 - 10:21

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.

Punjab National Bank (International) Ltd had on March 16 last year approached the tribunal seeking initiation of the corporate insolvency.

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