Karuturi Global Ltd

Seven years after the farm was placed under receivership due to debts owed to Kenya Revenue Authority and a local bank, the final nail has been hammered on its coffin. Workers now worry for the Sh300 million they are owed in salary arrears, union dues and savings.

Stanbic Bank, in Kenya, is now free to auction assets of Karuturi Ltd over a debt of USD 16.6 million after the Supreme Court dismissed an appeal by its shareholders and guarantors.

In an order dated January 25, 2021, Honorable NCLT Bengaluru has initiated liquidation proceedings in the matter of Karuturi Global Ltd.

"On the other side is Karuturi flower farms - it has also been taken away"

Two directors of the bankrupt Karuturi flower farm have moved to court accusing the company’s creditors and receivers of destroying a property they had been using as a wildlife and bird-watching lodge for "high value" visitors

Too few investors knew the land; too many deals were crooked. Yet officials hint that the government wants to promote huge farms once more, this time by expanding wheat production to boost food security.

Dutch flower growers who dominate the flower farms in Kenya are being accused of avoiding taxation while proudly wearing the “fair trade” badge.

According to the Kerala press, Sai Ramakrishna Karuturi, managing director Karuturi Global Ltd, has been arrested for fraud.

Corporate Insolvency Resolution Process has been initiated against Bengaluru-based Karuturi Global, which owns large rose farm holdings in Kenya, Tanzania, Ethiopia, Pune and Bengaluru.

Birhanu Fikade of "The Reporter" sat down with Atkyelesh G.M. Persson (PhD) to learn about her findings on large scale FDI that failed to deliver the desired results in Ethiopia

Scholar and employee of the UN Economic Commission for Africa, Atkyelesh G.M. Persson, recommends that the government, private sector and academia further investigate the potential damages large scale farms have perpetrated in Ethiopia and beyond.

A 15,000-hectare concession awarded to Karuturi Global in Ethiopia’s Gambela region has left locals fearing their ancestral lands will be cleared for agribusiness once again by the Indian firm.