Hyderabad: The National Company Law Tribunal (NCLT) at Hyderabad has ordered liquidation of Meena Jewellers Diamond Pvt Ltd (MJDPL), Meena Jewellers Pvt Ltd (MJPL) and Meena Jewellers Exclusive Pvt Ltd (MJEPL) for their failure to repay Rs 254 crore loan availed from SBI.
Though the two-member NCLT bench, comprising BP Mohan, member (judicial), and A Veera Brahma Rao, member (technical), ordered the corporate insolvency process to be initiated in November 2019, the management of these firms has been dodging the insolvency process. The bench finally passed the liquidation order on April 26, 2021.
According to resolution professional KV Srinivas, who verified the accounts of the firms, the previous management of these firms was not fort…
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