HYDERABAD: The Supreme Court has stayed insolvency proceedings at Mack Soft Tech, an Indian subsidiary of Irish business group Quinn that owns Q-City, an IT park in Hyderabad housing offices of Amazon, Mytrah Energy and TCS, among others.
The top court bench comprising Justice Rohinton Fali Nariman and Justice Indu Malhotra on Monday stayed the insolvency proceedings, while directing the respondents to file counters in a weeks time.
This comes even as investigating agency Enforcement Directorate is intensifying its probe into the alleged money laundering of millions of dollars at Mack Soft Tech and advising the resolution professional to alert the prospective resolution applicants regarding the ongoing probe.
The key resolution applic…
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