Directors of the troubled Karuturi Limited have moved to court under a certificate of urgency urging the court to appoint an independent and qualified liquidator to immediately take over the operations of the company from the present liquidators.
In an application filed at the Milimani Commercial Court, the directors claim that the current liquidators from PriceWaterHouse Coopers Limited (PWC) are not independent and have no insolvency practitioners license as provided for under the Insolvency Act 2015.
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