Aircraft Inspector reported that an Aircraft Repair Station did not properly update maintenance inspection records for an aircraft that was subsequently dispatched into revenue service.

Narrative

A part 135 rotorcraft was involved in a ground event involving a main rotor overspeed. The aircraft was removed from service pending the airframe and engine manufacturers recommended inspections. During the time period it was found that another rotorcraft was overdue an airframe inspection and also was removed from service. Management had a job scheduled with the second aircraft and decided to remove all the current rotating components; including engine; MR (Main Rotor) blades; gearboxes; etc and install them on the rotorcraft that had the overspeed event.The components were transferred; airframe inspections were completed; ground and flight checks were completed. A log entry was generated with a list of discrepancies and compliances from a work order. The aircraft was dispatched for the job. The rotating components and other items have definite hourly service life and component limits recorded on individual component cards.These component cards were not completed and no record of remaining service life intervals were posted to the dispatched rotorcraft. There also was no current airframe; accessory and engine AD (Airworthiness Directive) record posted in the company's tracking program for the aircraft that experienced the overspeed. Since it is a part 135 aircraft; these intervals are required by CFR pt 135.439 and are currently not complete. In researching prior record entries by prior Maintenance; it was found that no research was completed and the currently available records in the company's tracking software did not reflect the current aircraft configuration.Initially the aircraft was returned to service and was being operated without documented component/inspection records per the manufacturers inspection/life limit requirements in order to complete the production job. However; the records are now in research and being updated.