Photo: iStockphotoMumbai: The resolution professional of TVS Capital Funds-backed Dunar Foods Ltd has moved the National Company Law Tribunal (NCLT) against the attachment of the firm’s assets by the Enforcement Directorate (ED). Shrawat directed ED to file its reply and observed that the agency and resolution professional should try to work together rather than in silos. When contacted, Anil Kohli, the resolution professional for Dunar Foods, confirmed the development and said there were a couple of queries for the company’s assets but no resolution plan yet. Ltd and Dunar Foods Ltd,” the agency said in a statement. TVS Capital Funds and International Finance Corp. (IFC), part of the World Bank Group, had jointly invested $30 million in Dunar Foods to aid the firm’s expansion plans in early 2012.

Source: Mint April 11, 2018 04:41 UTC