Reid & Taylor India, owned by the Kasliwal family-run S Kumar Group, which is also facing bankruptcy proceedings, owes over ₹4,100 crore to banks and other lenders. Photo: MintMumbai: The National Company Law Tribunal (NCLT) Tuesday asked the union of the bankrupt premium apparel brand Reid & Taylor to provide the Hong Kong-based investor’s financial details for 2017-18 on Thursday. The bench also directed the resolution professional, who mentioned another two other unnamed investors from the US and Britain, to be in touch both these investors. Reid & Taylor India, owned by the Kasliwal family-run S Kumar Group, which is also facing bankruptcy proceedings, owes over ₹4,100 crore to banks and other lenders. That apart Edelweiss ARC, which has taken the company to NCLT in March 2018, Arcil and JM Financial ARC also have exposure in Reid & Taylor which sells premium suits, jackets, trousers, shirts, T-shirts, among others.

Source: Mint January 08, 2019 14:26 UTC