Gurpreet Grewal


PHOTO: Gurpreet Grewal appears to have fled the country after his business went bust last year. Criminal charges also hang over him.

A former real estate golden boy who had 10 branches and who last year saw his empire crumble has apparently fled to India.

Gurpreet Grewal, whose company Preet & Co went into liquidation last year owing $14 million, faces criminal charges and has failed to return to New Zealand after a High Court judge allowed him to travel to India to raise funds to pay his debts, according to the Sunday Star Times.

The Howick and Pakuranga Times reported on April 19 last year that Preet & Co Real Estate (PEL) and Preet & Co Rentals (PRL) had gone into liquidation owing creditors at least $14m.

PEL held the franchise rights for the Harcourts’ brand for south and east Auckland for the sales arm of the business. It had 10 branches with offices in Botany, Ellerslie, Otahuhu, Howick, Manukau (two sites), Pakuranga, Papatoetoe, Meadowlands and Manurewa.

Administrators — and now liquidators — Meltzer Mason were called in on November 22.