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Future Retail Limited

Future Retail heads for liquidation as lenders fail to get suitable buyer

As the Committee of Creditors rejected the sole resolution plan submitted by Space Mantra, the RP of the company has now approached NCLT to initiate liquidation of Future RetailNew Delhi: Future Retail, once the crown jewel of Kishore Biyani-led...

Future Retail resolution professional moves NCLT against Kishore Biyani and family alleging fraudulent transaction

The application "has been filed pursuant to the findings in the report received from Nangia & Co. LLP, which was appointed as 'Transaction Review Auditor' by the RP," said a regulatory filing from Future Retail Ltd (FRL)New Delhi: The...

Future Retail resolution professional moves NCLT to seek extension of insolvency deadline till Sept 15

The RP of the company has moved an application before the Mumbai bench of NCLT to exclude a period of 29 days from CIRP of Future Retail Ltd, according to a regulatory filingNew Delhi: The resolution professional (RP) of...

NCLT grants 90 days extension to Future Retail for concluding insolvency

Allowing FRL's plea the Mumbai bench of the National Company Law Tribunal (NCLT) has extended the deadline to July 15, 2023, for concluding the CIRP of FRLNew Delhi: The NCLT has granted Future Retail Ltd (FRL) an extension of...

Future Retail’s creditors seek 90 days extension for concluding insolvency resolution process

The CIRP was initiated against FRL by NCLT on July 20, 2022, following loan defaultNew Delhi: Lenders of debt-ridden Future Retail Ltd (FRL) has sought an extension of 90 days for concluding the Corporate Insolvency Resolution Process (CIRP) of...

FRL Insolvency: Creditors invite fresh bids, divide assets into 5 clusters as it fails to attract any bids so far

The prospective buyers can bid for the debt-ridden firm "as a going concern or individual cluster or a combination of clusters" of its assets as it failed to attract a resolution plan in over four monthsNew Delhi: The creditors...

Kishore Biyani steps down as chairman of Future Retail

Future Retail is facing CIRP (Corporate Insolvency Resolution Process) as a "result of unfortunate business situation", says BiyaniNew Delhi: Kishore Biyani has stepped down from the suspended board of Future Retail and has resigned as chairman and director of the...

Delhi HC upholds Singapore arbitrator’s order against Future-Reliance deal

The Delhi High Court Thursday upheld the Singapore's Emergency Arbitrator's (EA) order restraining Future Retail Ltd (FRL) from going ahead with its Rs 24,713 crore deal with Reliance Retail to sell its business, which was objected to by US-based e-commence giant Amazon, as per...

Traders’ bodies urge Amazon to ‘back off’ from Future-RIL deal

Traders' body AICPD and NGO Prahar in an open letter on Thursday asked Amazon to 'back off' from blocking the Reliance-Future Group deal, alleging mall vendors and suppliers have become collateral damage in the current tussle between the companies."Around 6,000 Indian small vendors and suppliers...

Future-Amazon tussle reaches Supreme Court, FRL says ‘will defend the matter’

Amazon has approached the Supreme Court against a Delhi High Court order that vacated the status quo on Future Group's proposed Rs 24,713 crore-deal with Reliance Industries.In a filing to stock exchanges, Kishore Biyani-led Future Retail Ltd has said that it "shall defend the matter/proceedings through its...
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