Insolvency plea against Kwality

New Delhi: Global private equity player KKR has filed insolvency plea against dairy firm Kwality Ltd before the National Company Law Tribunal (NCLT). Kwality Ltd in 2016 had announced that it had raised `300 crore from KKR India Financial Services and got additional commitment of `220 crore. The amount was raised to fund its expansion plans and enter into consumer segment. The matter was listed Monday before a NCLT bench in Delhi consisting Ina Malhotra and Deepa Krishan. Incorporated in 1992, Kwality has six milk processing units.