Ritesh Mani, the director of the Eco-Smart Group, has stepped away from trading after five companies in his group entered liquidation, The New Zealand Herald reported. The collapse follows years of complaints from clients and subcontractors. In December, three companies within the group—ASCCN 21, NKSW, and ECTCH—were liquidated, adding to the August liquidation of two other companies, Manifest Group and Prime Assets #1, both also directed by Mani.

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The Registrar of Companies has also indicated plans to remove three more companies associated with Eco-Smart from the register—Wealth Creation Partners, NZ First Home, and Eco-Smart Residential West Auckland.

Mani, whose commercial past has been marked by bankruptcy and business failures, did not directly respond to questions regarding the collapse to Herald. Instead, a public relations firm later issued a statement on his behalf attributing the company's failure to subcontractor issues and the declining Auckland property market. The statement acknowledged that while Eco-Smart had worked with hundreds of satisfied homeowners, not all projects were completed successfully.

Mani's business history includes two bankruptcies, in 2002 and 2014, and his involvement in the 2015 collapse of Tribeca Homes, a family-owned company. During his time at Tribeca, contracts worth millions of dollars were dishonoured, and the company went into liquidation owing $4.8 million. A subsequent ban on Mani from managing or directing a company was later overturned on appeal due to insufficient evidence.

Leo Brady, a creditor from Dennis & Leo Brady Construction, expressed relief at Eco-Smart's closure. Brady, who lost nearly $1 million in the collapse, stated that he had dealt with Mani in the past and was determined to continue moving forward despite the financial setback. Brady's company, which employs around two dozen staff, is still working to recover from the loss, with some support from other businesses.