Lilliput Kidswear
{{Short description|Indian clothing company}}
{{Use dmy dates|date=December 2022}}
{{Use Indian English|date=December 2022}}
Lilliput Kidswear is an Indian clothing brand that makes clothes specifically for children and is headquartered in New Delhi, India.{{cite web|last1=Agarwal|first1=Sapna|title=Pantaloons diversifies into children's wear, opens new store|url=http://www.livemint.com/Industry/xRTgKMwCJamsopUGluir8O/Panataloons-diversifies-into-childrens-wear-opens-new-stor.html|website=livemint.com/|accessdate=17 April 2017|date=6 April 2016}}{{cite web|title=Lilliput says it's got an offer from L Capital|url=http://www.livemint.com/Companies/1nhB5tEIdBycCwCdEJdyZI/Lilliput-says-it8217s-got-anoffer-from-L-Capital.html|website=livemint.com|publisher=Livemint|accessdate=17 April 2017}}
History
Sanjeev Narula founded Lilliput Kidswear in 2003.{{cite web|last1=Menon|first1=Bindu D|title=Lilliput wants to make a fresh start; partially repays vendors|url=http://www.thehindubusinessline.com/companies/lilliput-wants-to-make-a-fresh-start-partially-repays-vendors/article6127137.ece|website=The Hindu Business Line|accessdate=17 April 2017|language=en|date=18 June 2014}} Bain Capital Partners invested $60 million into Lilliput Kidswear in May 2010.{{cite web|last1=PM|first1=Indulal|last2=Aldred|first2=Stephen|title=Bain sues EY over $60 mln loss in Lilliput Kidswear|url=http://in.reuters.com/article/bain-lawsuit-lilliput-kidswear-idINKBN0EO0CP20140613|archive-url=https://web.archive.org/web/20151209163015/http://in.reuters.com/article/bain-lawsuit-lilliput-kidswear-idINKBN0EO0CP20140613|url-status=dead|archive-date=9 December 2015|website=Reuters India|accessdate=17 April 2017|language=en-IN}} Two weeks after the IPO of Lilliput, a whistle blower called to inform investment firms that the revenue figures in Lilliput were inflated.{{cite web|last1=Flaherty|first1=Michael|last2=Stephen|first2=Aldred|title=Bain, TPG's Lilliput woes a warning on India investing|url=http://in.reuters.com/article/lilliput-tpg-capital-bain-capital-idINDEE84H05220120518|archive-url=https://web.archive.org/web/20170418162616/http://in.reuters.com/article/lilliput-tpg-capital-bain-capital-idINDEE84H05220120518|url-status=dead|archive-date=18 April 2017|website=Reuters India|accessdate=17 April 2017|language=en-IN}} Bain Capital Partners sued the audit firm Ernst & Young Global Limited, after the invested in Lilliput kidswear on the advice of the auditing firm. Bain Capital claimed to have incurred a loss of $60 million over the investment.{{cite web|title=Bain Cap sues EY over loss in Lilliput Kidswear|url=http://economictimes.indiatimes.com/et-now/corporate/bain-cap-sues-ey-over-loss-in-lilliput-kidswear/videoshow/36560837.cms|website=The Economic Times|accessdate=17 April 2017}} Bain Capital left the company in 2013 according to the CEO of Lilliput Kidswear.
Controversy over fraud
In 2013, Lilliput Kidswear bought clothing worth $5,000,000 (40 Crores BDT) from 22 Bangladeshi garment suppliers. After receiving no payment, Central bank of Bangladesh via Bangladesh government approached the Indian government to solve the issue. After mediation from Indian Commerce ministerministry, Lilliput Kidswear made no payments to Bangladeshi suppliers. As a result, those supplier companies got bankrupted and incurred a great loss resulting shutdown of their factories.{{cite web|last1=Mishra|first1=Asit Ranjan|title=Partial repayment by Lilliput defuses Bangladesh... tension|url=http://www.livemint.com/Companies/tZU1TO5FP0v37zoTS2MH0I/Partial-repayment-by-Lilliput-defuses-Bangladesh-tension.html|website=livemint.com/|accessdate=17 April 2017}}