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Future Retail

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 lenders reject Space Mantra’s bid; NCLT extends insolvency period for 15 days

The Resolution Plan submitted by Space Mantra for Future Retail Ltd (FRL), failed to get the required number of votes in the e-voting process of the Committee of creditors (CoC)New Delhi: The lenders of Future Retail Ltd have rejected...

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...

Future Retail shares climb 5%

As many as 49 players, including Reliance Retail, Jindal Power Ltd and Adani group, have submitted EoI for acquiring the assets of Future Retail, which is currently going through insolvency resolution processNew Delhi: Shares of Future Retail climbed nearly...

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 withdraws resignation from FRL’s suspended board as Chairman, Director

The Resolution Professional of Future Retail Ltd (FRL) had raised objections to the contents of Biyani's resignation letter and had requested him to recall itNew Delhi: Almost one and a half months after resigning from the suspended board of debt-ridden...

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...
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