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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 Insolvency Resolution Process last year, with admitted claims of over Rs 19,185 crore.
"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.