Supreme Court settles insolvency proceedings against Mack Soft Tech

Varun Marwah April 8 2019
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The Supreme Court has allowed settlement of insolvency proceedings against Mack Soft Tech Pvt Ltd, based on an application filed by group company, Quinn Logistics India Ltd.

Quinn Logistics was the holding company of Mack Soft when the loans were disbursed to it during 2007-2010, in connection with the 'Q-City' project. Quinn Logistics held 99.9% of Mack Soft's shareholding. The loan granted by Quinn Logistics was interest-free. Subsequent to insolvency triggered against a Quinn group company offshore, Mack Soft Tech . . .

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