Creditors have until May 7 to submit claims as Daniel Chopra’s Elektrans Shipping has finally been declared insolvent.
Insolvency proceedings against the Indian owner started earlier this month with the process estimated to be concluded by October 20.
The tanker player’s downfall has been a long time coming with multiple reports of Chopra failing to pay staff on shore and at sea in recent years.
Last year the firm’s Singapore subsidiary was closed. The company’s most high profile foreign executive, Michael Elwert, a Danish national, quit at the start of this year and has since taken a senior role at ship manager V.Group.
Established in 2001, Elektrans Group was formerly known as Doehle Danautic India before rebranding in 2015.
Chopra was involved in shipowning with Glen D’Costa before the pair fell out two years ago, which has resulted in a long running legal fight. Chopra’s background prior to Elektrans was with with Germany’s Peter Doehle, where he became the company’s youngest master mariner.
Elektrans Shipping has three tankers in its fleet according to VesselsValue, 1998-built MR1 Distya Pushti, 2012-built product tanker Nu Shi Nalini and 2010-built 1,100 dwt tanker Shree Krishna XV. They’re valued at just over $19m.
Elektrans officials including Chopra have yet to reply to questions sent by Splash earlier today.