Bankruptcy proceedings to begin against Warana Dairy
A cancelled 2011 contract for supplying flavoured milk to 1,500 schools in Mumbai and frequent drought in Maharashtra has brought a 53-year-old co-operative dairy, Warana Dairy and Agro Industries Ltd, to the brink of bankruptcy, according to the company’s filings in the National Company Law Tribunal (NCLT). Punjab National Bank (International) Ltd has taken Warana […]
DAIRY NEWS MCA orders inquiry into books of Mother Dairy F&V Pvt Ltd
The government has ordered an inquiry into the books of Mother Dairy Fruit and Vegetable Private Ltd (MDFVL), a wholly-owned subsidiary of the National Dairy Development Board. Responding to a question in the Rajya Sabha, Minister of State for Finance and Corporate Affairs Anurag Thakur said, “An inquiry under Section 206 of the Companies Act, […]
NCLT passes order to liquidate dairy firm Kwality Dairies
The National Company Law Tribunal (NCLT) has directed to liquidate debt-ridden dairy firm Kwality Ltd after the company failed to finalise any bidder within the specified time-frame. The NCLT had directed to initiate insolvency proceedings against Kwality Ltd on December 11, 2018 over the plea filed by the financial creditors Punjab National Bank and KKR […]
