Troubled plantations company Karuturi Limited’s owners have asked the High Court to jail the flower firm’s receiver managers for denying them access to its financial records in disregard of a court order issued in July.
Deposed Indian flower firm is planning a major comeback to Kenya next month, after entering a debt deal that would enable it retake its vast farms currently under control of its creditor CFC Stanbic Bank.
The approach taken by Ethiopia and India to reaching development goals and fulfilling environmental promises by leasing or buying large tracts of fertile land affects land, water and indigenous people.
Director of agricultural investment at Ethiopia's Ministry of Agriculture says Karuturi is on the verge of collapsing in Ethiopia and that the company "has gone bankrupt following internal management crisis”
Karuturi Global Ltd, la multinacional india que hizo su fama en el mercado global de la industria de flores cortadas y que recientemente adquirió más de 300 mil hectáreas en Etiopía para producir alimentos para los mercados extranjeros, continúa su dolorosa e impresionante caída.