Mahendra and Manish Bavishi, called in liquidators last week after it became

insolvent as a result of the damage caused to its reputation by the raid.

Nine men charged over the raid will appear in court later this week for a plea
hearing. They are alleged to have bored a hole through the 50cm thick concrete wall
surrounding the underground deposit box room and breaking into 73 boxes.

Sunney Sagoo, who works for the the liquidator Streets SPW, told The Telegraph: "In
order to protect the clients' deposits and to preserve the assets the company went
into liquidation on August 24.