REI Agro, a firm that claims to have a 22 per cent share in the worlds basmati rice market, has gone in for liquidation after the National Company Law Tribunal (NCLT) ordered it to do so. Sources in the know of the matter said the makers of India Gate basmati rice, the KRBL group, have shown interest in REI Agro.
REI Agro, which sells Raindrops basmati rice, has a reserved price of Rs 2 billion. The official liquidator will hold an e-auction for the company. While the company has many assets, only those not under litigation or that which have not been attached by the enforcement directorate have been taken into account.
The promoters of KRBL, which makes the popular India G…
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