Bankruptcy court orders liquidation of Reid & Taylor India1 min read 05 Feb 2019, 07:53 PM IST
The Mumbai bench of the NCLT had admitted the company for insolvency resolution in April 2018
The RTIL Employees’ Association, which is vying for the company as an investor, has decided to challenge the order
MUMBAI : The dedicated bankruptcy court, National Company Law Tribunal (NCLT), has ordered liquidation of textile maker Reid & Taylor India Ltd (RTIL) after investors put up by the employees association and other bidders failed to come up with a viable revival plan. The company owes over ₹4,100 crore to its lenders.
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