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The BM Khaitan family have been controlling the company for 25 years
The earlier injunction preventing such sales and was impairing the firms' ability to pay off their lenders outside the scope of NCLT
All major listed entities of B.M. Khaitan Group posted revenue decline in Q1
He made his fortune in tea and went on to acquire Union Carbide's Eveready Industries in 1993, beating the Wadias of Bombay Dyeing in a $96.5-mnn deal, the largest corporate takeover then