Tata Capital files case against Lilliput

Tata Capital has filed a case against Lilliput Kidswear, the kids’ apparel brand, in bid to recover its dues. The retailer had defaulted on a payout to the finance company in October. Tata filed the case to recover its Rs 10 crore that Lilliput defaulted in October along with another Rs 25 crore payout to Bank of India. The banks had cold shouldered the company and pulled back on further loans as tensions between the kidswear retailer and its foreign private equity investors, including TPG Capital and Bain Capital, soured.
Lilliput, on the other hand, has accused the private equity firms of interfering in the management affairs of the company and said the foreign firms are trying to wrest control of the retailer.