Karuturi Global Ltd

Land grabbing did not disappear when the headlines faded. Across the world, corporations, investors and states continue to reshape control over land and resources, often through quieter, normalized processes.

Ethiopia’s hopes of ushering in a new era of commercial farming ventures rested in large part on the shoulders of the Gambella Regional State. Recent years have seen hundreds of investors granted licenses and credit to establish commercial farms in the southwestern corner of the country, but little has come from the efforts.

In a significant ruling, the Delhi High Court has granted bail to Sai Ramakrishna Karuturi, Director of Karuturi Global Limited, in a case involving alleged economic offences under IPC §420 and §409. The FIR was lodged against Karuturi on allegations of failing to fulfill agreements with the Government of Djibouti and misappropriating funds meant for land development in Ethiopia.

The case stems from accusations lodged by the Djiboutian Ambassador in 2018, asserting that Karuturi neglected to meet the terms of agricultural agreements signed in 2011 and 2012 for activities in Ethiopia.

The Supreme Court of India has cancelled anticipatory bail granted to Ram Karuturi who is accused of defaulting on a US$6.5 million loan taken in 2011 from the government of Djibouti to develop 15,000 ha of agricultural land

The Competition Authority of Kenya (CAK) has approved the sale of more than 100 hectares of Karuturi Flower Farm in Naivasha by Shalimar Flowers.

The Competition Authority of Kenya has given a ray of hope to more than 3,000 workers of Karuturi Flowers (200 ha) after it approved its purchase by Shalimar Flowers Kenya Limited.

Assets up for grabs include a 70-hectare piece of land and greenhouses sitting on 26 hectares of land

Stanbic Bank has received the nod to proceed with a piecemeal auction of assets of one of Kenya’s largest flower farms, Karuturi Limited to recover a Sh1.6 billion debt.

In the yesteryears, international investors trooped to the Kenyan lakeside town in search of land to grow flowers but it is no longer the case.

Cash-strapped Karuturi Flowers in Naivasha is back in court in a bid to stop receiver managers from auctioning its property over Sh1.8 billion debt

3,000 former workers of the once flourishing Naivasha based flower farm have been gien two months notice to move out and pave way for the sale of the staff quarters.