Logistics Firm Freightco India Takes Jain Irrigation Arm To NCLT For Insolvency Proceedings

Freightco India, in its petition to the NCLT, claimed a receivable of Rs 1.04 crore from Jain Farm Fresh Foods.

Aman Kapadia

Published On

09 Jul 2019, 10:54 AM IST

Last Updated On

09 Jul 2019, 02:57 PM IST

Jain Farm Fresh, which is in the business of food processing, has not made any payment to FreightCo India since November 2018. (Photographer: Taylor Weidman/Bloomberg)

Freightco India Ltd. moved the National Company Law Tribunal to initiate insolvency proceedings against Jain Farm Fresh Foods Ltd.—a subsidiary of debt-laden Jain Irrigation Systems Ltd.—for not paying dues.

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Logistics Firm Freightco India Takes Jain Irrigation Arm To NCLT For Insolvency Proceedings

Freightco India, in its petition to the NCLT, claimed a receivable of Rs 1.04 crore from Jain Farm Fresh Foods.

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