Milkfood is a Punjab-based company, controlled by the Jaiswal family through L P Investments, a subsidiary of Jagatjit Industries, commenced commercial production in 1973. The company manufactures and markets milk and milk products. The main products are milk powder, ghee, baby food, ice-creams and yoghurt. The company came out with a convertible debenture offer in Feb.'91 to part-finance normal capital expenditure, to repay loans and for long-term working capital. Brooke Bond Lipton India has acquired the marketing and distribution rights of the Milkfood range of ice-creams. Milkfood has over 2000 vending outlets predominantly in Delhi and Punjab. During the year 1999-2000, an amount of Rs.328.21 lacs was paid towards final instalment of redemption of debentures. The company is planning to upgrade its technology,modnerise its plants/training and motivation of employees,improve the capacity utilisation for the year 2001-02.