Page 11 - Future Group News Today

The sale of Future Lifestyle Fashions (FLFL) under the corporate insolvency process has run into a roadblock due to a conflict of interest between promoter Kishore Biyani and the forensic auditor appointed by lenders, people aware of the development said. Dilip Dixit had undertaken an assignment for one of the Biyani-promoted company before FLFL was admitted for corporate insolvency. Dixit is also partner of GD Apte & Co, the firm which the lenders appointed as forensic auditor of FLFL in Ju...

These provisions are ultra vires the Act as they operate to obstruct/delay the recovery of loans by banks and other financial institutions and also “confer drastic and extraordinary powers” upon the tribunal to pass interim exparte order without prima facie satisfying that the conditions required for such restraint orders are met, the petition filed through counsel Pallavi Pratap stated.

The Future Group companies on Tuesday moved the Delhi High Court against a debt recovery tribunals July 31 order that restrained them from alienating their assets in recovery proceedings initiated by lenders. A bench led by Chief Justice Satish Chandra Sharma, while seeking response from the government, Future Group founder Kishore Biyani, Rattan India Finance, RBL Bank, Yes Bank and others refused to stay the DRT order. The matter will be next heard on October 18.

The sale of Future Lifestyle Fashions (FLFL) under the corporate insolvency process has run into a roadblock due to a conflict of interest between promoter Kishore Biyani and the forensic auditor appointed by lenders, people aware of the development said. Dilip Dixit had undertaken an assignment for one of the Biyani-promoted company before FLFL was admitted for corporate insolvency. Dixit is also partner of GD Apte & Co, the firm which the lenders appointed as forensic auditor of FLFL in Ju...

The resolution professional of debt-ridden Future Retail Ltd has approached the National Company Law Tribunal, seeking a further extension till September 15 to complete the corporate insolvency resolution process. The RP has moved an application before the Mumbai bench of NCLT, to exclude a period of 29 days from CIRP of Future Retail.

State Bank of India (SBI) plans to sell over INR 960 billion ($12.9 billion) of distressed loans to asset reconstruction companies. The countrys largest bank prepared a list of 331 accounts, including loans to Future Group, Anil Ambani-promoted firms, Videocon Group and Jaypee Group, among others.

/PRNewswire/ -- The home furnishings market size is estimated to grow by USD 473.96 million from 2022 to 2027 at a CAGR of 7.17% according to Technavio....

The announcement was made in latest episode of Kamaths podcast WTF is

Recently, in an insightful podcast featuring Nikhil Kamath from Zerodha, Sujeet Kumar from Udaan, and Vidit Aatrey from Meesho, Biyani graciously shared his wealth of experiences and invaluable lessons from managing Big Bazaar, a prominent retail chain under Future Retail.

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