Reid & Taylor promoters defrauded co of Rs 3,524 cr; RP wants to file criminal complaint
The resolution professional of Reid & Taylor India has sought permission from the Mumbai bench of NCLT to file criminal a complaint against Nitin Kasliwal, the promoter of the bankrupt premium apparel brand, for fraudulent transactions worth Rs 3,524 crore.
Reid & Taylor India case: The matter is likely to come up at the tribunal Tuesday, when it will hear a bid by company's employees to take over the crippled company. Image source: Company website