Karuturi fails to comply with SEBI

Seeks more time as its operations in Kenya has been under receivership


Karuturi Global, the Bangalore-based publicly-held cereals, vegetables and flower exporter, has said it has applied to ROC-Bangalore (registrar of companies) seeking permission to extend the date of the AGM to a maximum period of three months from early September 2014. This move to delay complying with the listing regulations comes after the company’s subsidiary in Kenya has been in legal tangles with its banker in recent times. “The CFC Stanbic Bank Limited, Kenya, the banker of the subsidiary company has appointed receivers for the subsidiary company and on all the ...