Ravikiran Aggarwal and his son Pujit, who owe Rs 1,380 crore between them, had filed insolvency petitions in the Bombay High Court in July.
Ravikiran Aggarwal and his son Pujit, who owned the erstwhile real estate company Orbit Corp, have been declared insolvent by the Bombay High Court. The Aggarwals had approached the high court in July, filing separate insolvency petitions in which they claimed their debts far exceeded their assets. According to the petitions, while Pujit Aggarwal – former managing director and chief executive of Orbit Corp – owed around Rs 1,049 crore in his personal capacity, while his father owed more than Rs 331crore.
Justice Riyaz Chagla of the Bombay High Court has now appointed an official assignee for their…