ED probes alleged promoter-linked resolution plan in Best Foods insolvency case
Our read
Best Foods insolvency resolution faces a protracted reset as promoter-link allegations force deeper bid scrutiny, creating near-term supply uncertainty and an opening for food-sector rivals.
For investors
Best Foods’ recovery outlook now carries elevated governance, legal and timeline risk, warranting caution on valuation and insolvency-related claims.
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The report,
The ED arrested former resolution professional Jitesh Gupta, alleging he manipulated Best Foods-linked insolvency proceedings to enable a promoter-connected resolution plan funded through entities controlled by former management. The agency’s money-laundering investigation continues.
Reported figures
From the report. Source details below
| Prevention of Money Laundering Act, | 2002 |
|---|---|
| NCLT order dated September 9, | 2025 |
Other figures
- PMLA Sections 3 and 4
The source
First seen