ASIC secured travel restraint orders against current and former directors within the Mansa Group, Krishnakumar Sitaram Agrawal and Shashikumari Krishnakumar Agrawal.
The orders, issued on 18 March 2024, include restrictions on Mr and Mrs Agrawal from leaving or attempting to leave Australia until 31 August 2024 or until further order is made. Both Mr and Mrs Agrawal consented to the orders.
ASIC is currently investigating Mr and Mrs Agrawal over their roles in the collapse of the Mansa Group companies in July 2023. ASIC applied for the travel restraint orders over concerns that Mr and Mrs Agrawal may leave the country while it continues its investigation.
The final travel restraint orders were made after ASIC successfully applied for interim travel restraint orders at a hearing made without notice to Mr and Mrs Agrawal on 14 March 2024.
ASIC’s investigation into Mr and Mrs Agrawal and the Mansa Group of companies is ongoing.