Page 11 - Future Enterprises News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Future Lifestyle Fashions Ltd (FLFL) has said that claims worth Rs 3,477.28 crore from as many as 17 financial creditors have been admitted in the ongoing Corporate Insolvency Resolution Process (CIRP). Catalyst Trusteeship Ltd has emerged as the lead financial creditor with Rs 600.40 crore, having a 17.4 per cent voting share in the Committee of Creditors (CoC), formed for the debt-ridden Future Group firm.

The National Company Law Tribunal (NCLT) had appointed Jitender Kothari as the interim resolution professional (IRP) in February when FEL was admitted for corporate insolvency on a petition by Foresight Innovations, an operational creditor.

The National Company Law Tribunal (NCLT) had appointed Jitender Kothari as the interim resolution professional (IRP) in February when FEL was admitted for corporate insolvency on a petition by Foresight Innovations, an operational creditor.

FEL is going through Corporate Insolvency Resolution Process (CIRP) after the Mumbai bench of the National Company Law Tribunal (NCLT) admitted a plea from one of its operational creditors in February this year and appointed Jitender Kothari as IRP suspending the board.

Taking a step forward for debt resolution, the interim resolution professional of debt-ridden Future Enterprises Ltd (FEL) has reconstituted the Committee of Creditors and claims of more than Rs 12,265 crore have been admitted from both secured and unsecured financial creditors.