Page 7 - Future Retail News Today

The monthly rent for the first year will be Rs 90 lakh, Rs 1 crore for the second year, Rs 1.05 crore for third year, Rs 1.10 crore for fourth year and Rs 1.15 crore for fifth year.

Kishore Biyani, founder of the Future Group, has challenged the forensic audit process and report submitted by accounting firm BDO India LLP and its lender, Bank of India, at the Bombay High Court. Biyani has filed a writ petition against Future Retail, BDO India, and Bank of India. The matter will be heard on September 31. This development comes after Bank of India asked Future Retail and its promoters to respond to a forensic audit report. Future Retail was admitted under the Corporate Insolve...

"We are farmer-entrepreneurs-founders ourselves, running large-scale aquaponics and sustainable soil-based farms in different parts of Maharashtra for more than five years," said Mayank Gupta, managing director and co-founder of Food Square.

The SC stayed the INR 202 Cr penalty imposed by the Competition Commission of India (CCI) on the ecommerce major. 

Supreme Court grants respite to Amazon, final hearing on plea scheduled for December; interim order continues.

Everyone loves the bonbons. But, where are the venture capital firms?

The committee of creditors (CoC) for Future Retail (FRL) has extended the voting period once again as they are undecided on whether to approve a low offer from SpaceMantra or opt for liquidation. The creditors have until September 30 to make a decision. SpaceMantra is the only bidder to acquire FRL, offering a recovery of about 2.79% for creditors. Lenders are uncomfortable with the offer and have raised concerns about valuations and the inaccessible nature of many FRL stores.

The committee of creditors (CoC) for Future Retail (FRL) has extended the voting period once again as they are undecided on whether to approve a low offer from SpaceMantra or opt for liquidation. The creditors have until September 30 to make a decision. SpaceMantra is the only bidder to acquire FRL, offering a recovery of about 2.79% for creditors. Lenders are uncomfortable with the offer and have raised concerns about valuations and the inaccessible nature of many FRL stores.

The committee of creditors (CoC) for Future Retail (FRL) has extended the voting period once again as they are undecided on whether to approve a low offer from SpaceMantra or opt for liquidation. The creditors have until September 30 to make a decision. SpaceMantra is the only bidder to acquire FRL, offering a recovery of about 2.79% for creditors. Lenders are uncomfortable with the offer and have raised concerns about valuations and the inaccessible nature of many FRL stores.

Future Retail: "NCLT on September 7, 2023, heard the application and granted the said exclusion of 29 days from CIRP of FRL. Consequently, the last date for completion of CIRP of FRL is September 15, 2023," it said.