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The NCLT has granted Future Retail Ltd (FRL) an extension of 90 days for concluding the Corporate Insolvency Resolution Process (CIRP) of the company.
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The resolution professional of FRL has filed an application before the Mumbai bench of the National Company Law Tribunal (NCLT) 'seeking exclusion of a period of 90 days from CIRP of FRL, and consequent extension from April 16, 2023, to July 15, 2023, for concluding the CIRP of FRL'
As 49 entities including Reliance, JSW and Adani file their expressions of interest for Future Retail, here’s a look at how the future of India’s biggest retail business in now bleak , , future group, future retail, kishore biyani, explained
The Insolvency and Bankruptcy Code (IBC) time frame for resolution is 330 days, inclusive of the time taken for litigation.