Melbourne builder Aarush Homes enters liquidation amid fines and mounting debts
An embattled Melbourne builder, previously slapped with fines by the state’s building regulator, has plunged into liquidation amid a $100k unpaid tax bill and debts owed to a slew of creditors.
An embattled Melbourne builder previously slapped with fines by the state’s building regulator has plunged into liquidation.
Two companies formerly trading as Aarush Homes, Aarush Enterprise and Aarush Construction, collapsed late last month.
The home builder was fined thousands of dollars by Victoria’s building watchdog earlier this year for failing to comply with a dispute resolution order on a Werribee site.
According to company filings, both businesses name Manish Patel as their sole director and share a registered office at a residential address in Mernda, in Melbourne’s northeast.
Mr Patel claims he is owed $600,000 from the liquidation, alongside other unsecured creditors including the tax office owed over $135,000 and a slew of trade creditors, documents lodged with the Australian Securities and Investments Commission reveal.
Secured creditors disclosed by the director were truss manufacturer Melbourne Truss owed $44,000 and brick supplier Hume Bricks and Pavers, owed $30,921.
Listed unsecured creditors included law firm Brixton Legal ($10,930), fence contractor AFT Hire ($25,753), flooring store Builders Market ($3000), and companies Saisri Investments ($18,747), OZ Fence ($10,000) and National Site Security ($3000).
Mr Patel said related entities Aarush Family Trust and Aarush Healthcare were also owed money from the liquidation, with the amount yet to be confirmed.
He reported debts to the tax office totalling $101,904 in business activity statements and a further $34,916 in income tax.
The Building and Plumbing Commission, then Victorian Building Authority, announced in January this year that they had fined the company $5000, warning they had 35 days to comply with the order at the Werribee site or they’d be suspending their registration.
They said Aarush Enterprise subsequently complied with the order and the suspension was withdrawn.
Liquidator Gaurav Mishra of Nesta Advisory, who was appointed on November 25, is now in charge of picking through the financial wreckage of the company.
Aarush Homes could not be contacted for comment.
More Coverage
Originally published as Melbourne builder Aarush Homes enters liquidation amid fines and mounting debts
