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Get latest articles and stories on Latest News at LatestLY. Shares of Future Retail climbed nearly 5 per cent on Monday following news that as many as 49 players, including Reliance Retail, Jindal Power Ltd and Adani group, have submitted Expression of Interest (EoI) for acquiring the assets of the debt-ridden firm. Latest News | Future Retail Shares Climb 5 Pc.
Jindal Power and J.C. Flowers Asset Reconstruction have also shown interest
In 2021, the SIAC adjudicated 469 cases and the sum in disputes it handled was a hefty $6.5 billion.
According to Ashish Pyasi, partner , Dhir and Dhir Associates, under the Companies Act 2013, a former promoter can withdraw his resignation even if the resolution professional is in charge of the insolvent company if the same was not accepted by him
The resolution professional has also filed an application against former and present directors of Future Retail.