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With his exit, Biyani will join the likes of businessmen who will be remembered, not for the empires that they built, but the value that they destroyed.
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Biyani said FRL is was facing CIRP (Corporate Insolvency Resolution Process) as a "result of unfortunate business situation".
Kishore Biyani has stepped down from the suspended board of Future Retail and has resigned as chairman and director of the company, which is currently facing insolvency proceedings before the NCLT.