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The hearing of Amazon's plea, initiating insolvency proceedings against debt-ridden Future Retail Ltd has been adjourned by the National Company Law Tribunal (NCLT) until June 14. A plea seeking initiation of insolvency resolution proceedings against Future Retail Ltd (FRL) was filed by Bank of India (BoI), the lead banker in the consortium of lenders of the company.
NCLT will hear Amazon's petition opposing initiation of insolvency resolution proceedings against debt-ridden Future Retail Ltd on June 10
Amazon has accused independent directors of Future Retail of facilitating "fraudulent stratagem" of transfer of 835 stores to Reliance group
Amazon has warned Future Retail Ltd against holding meetings of its shareholders to approve the sale of its retail assets to Reliance Retail
Supreme Court has ordered resumption of arbitration before the Singapore International Arbitration Centre over Future's merger with Reliance Retail