Uttara Foods and Feeds Bangladesh Limited, a sister concern of Indian VH Group, Venkateshwara Hatcheries Pvt Ltd, owes a debt of Tk 160 million (Tk16 crore) to 70 Bangladeshi traders.
In India, the company is known as the father of the poultry industry. Late Padmashree Dr BV Rao is the founder of the company and late Smt Uttaradevi Rao was his wife.
The company did not pay the money to the Bangladeshi traders who had supplied raw materials to it, alleged the affected traders at a press conference held at Jashore Press Club on Thursday.
Representatives of some 24 enterprises- Pallab Samir Kudrat-e- Khoda, owners of Tur Corporation, Asaduzzaman Asad of Satata Traders and Juthi Traders, Jahidur Rahman of Agro Concern, Ashraful Alam of BS Agro Trading, Deepa Rani Nath of PK Enterprise, Kajol Dutta of Innovator BD, Rezaul Islam of Bismillah Traders and other businesses- were present at the press conference.
In the press briefing, they said Uttara Foods and Feeds, a sister concern of Indian VH Group, started business in Bangladesh in 2011. It has two factories at Monirampur in Jashore.
The entrepreneurs wanted that Uttara Foods and Feeds pay off the Tk 160 million debt without any delay as the company has an intension to pack up its business without paying off the arrears.
It bought poultry feeds such as maize and soybean from the small businesses.
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