ASIC gets travel restriction order against Mansa Group directors
Australian Securities and Investments Commission (ASIC) issued travel restriction orders against current and former directors of Mansa Group Krishnakumar Sitaram Agrawal and Shashikumari Krishnakumar Agrawal。
Australian Securities and Investments Commission (ASIC) issued travel restriction orders against current and former directors of Mansa Group Krishnakumar Sitaram Agrawal and Shashikumari Krishnakumar Agrawal。This included restraining the Agrawals from attempting to leave Australia until 31 August 2024 or until further orders were issued, with both agreeing to the orders.。
ASIC, which is currently investigating the Agrawal couple's role in the collapse of the Mansa Group of Companies in July 2023, applied for a travel restriction order because of concerns that Mrs Agrawal might go abroad while the investigation continues.。
At a hearing held on March 14, 2024, ASIC successfully applied for a temporary travel restriction order without notifying the Agrawals and subsequently issued a final travel restriction order.。
The Agrawals are current and former directors of 27 companies, collectively known as the Mansa Group, responsible for the financing, acquisition and development of properties in Sydney's west.。
Between 30 June and 4 August 2023, 16 Mansa Group companies were voluntarily administered or liquidated by Mr. Agrawal or the Company's creditors。151 investors in Mansa Group finance firm Mansa Sons Pty Ltd have reportedly lost nearly $34.5 million in the company's collapse.。
Michael Billingsley and Mohammad Mansoor of Olvera Advisors were appointed liquidators of Mansa Sons Pte Ltd, Dawn Enterprise Pte Ltd, Tvesa Investments Pte Ltd, Siddhi Services Pte Ltd and Patidar Group Pte Ltd.。
Westburn Advisory's Shumit Banerjee and Rajiv Ghedia appointed liquidators of Pramukham Enterprises Pty Ltd, SK Homes Aus Pty Ltd, SKTM Capital Pty Ltd, SKTM Capital Pty Ltd, TKA Investments Pty Ltd and SK Capital Pty Ltd。
Martin Walsh, liquidator "Walsh & Associates" appointed as liquidator for SK Homes Pty Ltd。
Samarpan Investments, Sahyog Developers Pty Ltd and United Capital Australia Pty Ltd commissioned Simon Cathro and Declan Lane of "Cathro & Partners" as liquidators。
After a hearing in federal court, Judge Lee issued a provisional and final order.。
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