INDIA: Dunbar Mills Takeover Hits Technical Snag
The reopening of Dunbar Mills Ltd in the Parganas district has run into difficulties over a legal technicality surrounding the proposed buyer's lack of involvement in the company. According to Mr Justice Aloke Chakraborty of the Calcutta High Court, the court would have difficulty allowing Dr DP Sarkhel's Capricorns (Enterprise) Pvt Ltd to takeover the running of the unit, which has been closed for 14 years, because it is neither a creditor nor a shareholder in Dunbar Mills.
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