Property-flipping firm owned by Rickhil Prakash owes IRD nearly $9m

This Māngere property was bought by NZ Homes 2024 and resold three weeks later. (Image: Supplied)

Thu, 31 Jul 2025

A company owned by prolific property flipper Rickhil Prakash has been liquidated, owing nearly $9 million to the Inland Revenue DepartmentPrakash is the sole director and shareholder of New Zealand and Auckland Developments 2000 Limited, formerly known as NZ Homes 2024 Limited. He put the property investment firm into liquidation on June 18, just over a year after it was incorporated. The first liquidators’ report stated that the company owed $8.9 million in GST, and the IRD had begun liquidation proceedings before Prakash&rsquo...

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