Tribhovandas Bhimji Zaveri says not related to Tribhovandas Bhimji Zaveri & Sons Retail

By Jaikishan Yadav

Tribhovandas Bhimji Zaveri Ltd (TBZ -The Original) has clarified to the stock exchanges that it is in no way connected with Tribhovandas Bhimji Zaveri & Sons Retail Pvt Ltd against whom insolvency proceedings have been initiated at the NCLT on the petition of an operational creditor for a sum outstanding of Rs 6.1 crore .

“....Tribhovandas Bhimji Zaveri Ltd (the company) is neither connected nor does it have any relation with ‘Tribhovandas Bhimji Zaveri & Sons Retail Pvt Ltd’ nor do the promoters / the management of the company hold any shares / are in the management or control of Tribhovandas Bhimji Zaveri & Sons Retail Pvt Ltd. Tribhovandas Bhimji Zaveri & Sons Retail Pvt Ltd is a different company and does not form part of the group/ brand TBZ-The Original , Shrikant Zaveri Group,” the company press release dated December 20 and sent to the stock exchanges states.

The details of insolvency proceedings against Tribhovandas Bhimji Zaveri & Sons Retail Pvt Ltd appeared as a public announcement in a newspaper. The debtor is based out of Mulund, a Mumbai suburb , and proceedings against it by the interim resolution professional commenced on December 16.


The TBZ scrip on NSE closed 0.96% down at Rs 36.15 a share on Friday.