Shailendra Singh, former managing director at Percept Ltd, has dragged his estranged brother Harindra Singh to the National Company Law Tribunal and sought insolvency of the Mumbai-based media and entertainment group that he co-founded to clear his dues.
In March last year, Shailendra Singh had stepped down as MD of Percept, which he had been part of for 33 years and still owns 50% in.
He is seeking Rs 2.6 crore in salary and unpaid dues as an operational creditor, which he claimed was paid to him through cheques but was dishonoured due to insufficient funds, according to his petition to the tribunal.
ET reviewed a copy of the petition.
Both Shailendra Singh and Harindra Singh declined to comment on the development.
“Serious differences betw…
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