MUMBAI: A former managing director of Provogue India Ltd has accused a resolution professional, ex-colleagues and several business associates of orchestrating a years-long scheme that allegedly depressed the company’s value during insolvency, concealed foreign assets, and siphoned dues from export clients.
Provogue’s Collapse and a Trail of Suspicion
When Provogue India Ltd entered insolvency proceedings nearly a decade after a fire crippled its Daman factory, few expected the retail brand once a mainstay in Indian malls to reappear in police case files. But according to a complaint filed by Nikhil Chaturvedi, the company’s former managing director, the years following the 2014 fire created an opening for what he describes as a…