MUMBAI: The National Company Law Tribunal has ordered liquidation of two Rotomac group companies — Global and Exports — whose promoter Vikram Kothari is accused of being involved in a banking fraud. The order was pronounced at the NCLTs Allahabad chapter.
The initial period of 180 days expired on March 19 this year, but the committee of creditors has rejected the demand for an extension of 90 days to complete the insolvency resolution process.
The court has asked the Resolution Professional (RP) to submit a liquidation report within a month, and has appointed the RP — Anil Goel — as the liquidator, who will help to auction the companys assets.
The liquidator is directed to submit the progress report of liquidation process within 3…
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