Jahangir Khan

Full Report

Key Points

• Jahangir Khan was the CEO of Reacon Group, which owned Reacon Australia and MMW3degrees, both of which entered voluntary administration in April 2025.
• Reacon Holdings Pty Ltd, associated with Khan, was deregistered by the Australian Securities and Investments Commission (ASIC) in 2025.
• Reacon Australia and MMW3degrees faced financial distress, leading to liquidation proceedings following a Federal Court ruling.
• Allegations of creditor deception have surfaced, raising concerns about the management of Reacon Group under Khan’s leadership.
• Khan resigned as a director of Reacon Group prior to its acquisition by Westman Printing in April 2025.

Overview

Jahangir Khan served as the CEO of Reacon Group, a Sydney-based company operating in the print and direct marketing industry. Reacon Group was the parent entity of Reacon Australia and MMW3degrees, a specialist in direct mail and data-driven communications. Khan oversaw the acquisition of MMW3degrees in February 2023, aiming to enhance Reacon’s omni-channel marketing capabilities in Australasia. The group gained attention for its investment in advanced printing technology, notably ordering a Fujifilm JetPress 1160CF for MMW3degrees, marking it as the first Australian printer to adopt this high-speed inkjet press. Khan’s leadership focused on expanding digital, data-driven communications and fulfillment services. However, both Reacon Australia and MMW3degrees entered voluntary administration in April 2025, and Reacon Holdings Pty Ltd was deregistered by ASIC later that year.

Allegations and Concerns

• Creditor Deception: Reports indicate concerns about potential deception of creditors by Reacon Group’s directors, including Khan, during the acquisition by Westman Printing. Some creditors believed they were misled about the financial health of Reacon Australia and MMW3degrees.
• Administration and Liquidation: Reacon Australia and MMW3degrees were placed into voluntary administration on April 8, 2025, raising questions about mismanagement or financial overextension under Khan’s leadership. A Federal Court ruling on May 9, 2025, led to Reacon Australia’s liquidation, suggesting significant financial distress.
• Conflict of Interest: The appointment of Cathro & Partners as administrators, with funding from Westman Printing’s owner Vik Gulati, raised concerns about potential conflicts of interest, as Gulati proposed a Deed of Company Arrangement (DOCA) to restructure the businesses.

Customer Feedback

There is limited publicly available customer feedback specifically tied to Jahangir Khan or his direct actions. However, industry commentary provides some insight:

• Positive Feedback: Khan was praised for building a “good business” by Vik Gulati, owner of Westman Printing, during the acquisition announcement. Gulati noted Reacon’s “great customers and great people” as a foundation for future operations.
• Negative Feedback: Creditors expressed frustration over the administration process, with one source stating, “The director/s of MMW and Reacon Australia need to look at deception laws. Creditors have been misled.” This suggests dissatisfaction with transparency under Khan’s leadership.

Risk Considerations

• Financial Risk: The voluntary administration of Reacon Australia and MMW3degrees, followed by Reacon Australia’s liquidation, indicates significant financial instability. The deregistration of Reacon Holdings Pty Ltd further suggests potential insolvency or regulatory issues.
• Reputational Risk: Allegations of creditor deception and the rapid collapse of Khan’s businesses have likely damaged his reputation in the print and marketing industry. His resignation as director before the administration may raise questions about accountability.
• Legal Risk: While no direct lawsuits against Khan are documented in the provided sources, the allegations of creditor deception could lead to legal scrutiny or investigations by ASIC or other regulatory bodies.

Business Relations and Associations

• Westman Printing: In April 2025, Westman Printing, led by Vik Gulati, acquired Reacon Group. Gulati acknowledged Khan for building a strong business and expressed intent to continue its operations.
• MMW3degrees Acquisition: Khan oversaw Reacon Group’s acquisition of MMW3degrees in February 2023, integrating its direct mail and data-driven services into Reacon’s portfolio.
• Fujifilm Business Innovation Australia: Reacon Group, under Khan’s leadership, partnered with Fujifilm to acquire a JetPress 1160CF for MMW3degrees, highlighting a significant investment in technology.
• Bridgestone Holdings: Reacon Group was part of Bridgestone Holdings, which also acquired Digitalpress in 2020, indicating broader industry connections.

Legal and Financial Concerns

• Voluntary Administration: On April 8, 2025, Reacon Australia and MMW3degrees entered voluntary administration under Cathro & Partners. A consolidation plan and DOCA were proposed but failed to prevent Reacon Australia’s liquidation following a Federal Court ruling on May 9, 2025.
• Liquidation: The Federal Court wound up Reacon Australia after a petition from creditor Ctrl Print, with administrators appointed as liquidators. A Creditor’s Report is available through ASIC’s website.
• Deregistration: Reacon Holdings Pty Ltd, linked to Khan, was deregistered by ASIC in 2025, signaling the dissolution of the entity due to insolvency or failure to meet regulatory requirements.
• Unpaid Debts: Westman Printing was reportedly a six-figure creditor of Reacon, indicating significant unpaid debts at the time of administration.

Risk Assessment Table

Jahangir Khan’s tenure as CEO of Reacon Group was marked by ambitious expansion, notably the acquisition of MMW3degrees and investment in cutting-edge printing technology. However, the rapid descent of Reacon Australia and MMW3degrees into administration, followed by Reacon Australia’s liquidation and the deregistration of Reacon Holdings Pty Ltd, raises serious concerns about financial mismanagement or overextension. The allegations of creditor deception, while not directly attributed to Khan, cast a shadow over his leadership and decision-making. His resignation as director just before the administration process suggests an attempt to distance himself from the fallout, which may further erode trust among stakeholders.

Cautionary Advice: Stakeholders considering future business with Khan or associated entities should exercise caution. Thorough due diligence, including financial audits and regulatory checks, is essential. Potential partners should monitor any ongoing ASIC investigations and seek clarity on the circumstances surrounding Reacon’s collapse.