NCLT admits S Kumars for insolvency proceedings – Economic Times
MUMBAI: The Mumbai chapter of the National Company Law Tribunal (NCLT) last week admitted textiles and apparel company S Kumars Nationwide for insolvency proceedings after the state-owned IDBI Bank filed an application to recover about Rs 1,700 crore in unpaid loans. The company, which owned the premium brand Reid & Taylor in India, has total…