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The NCLT had granted four extensions to FRL for completion of the CIRP and the last date was September 30. After that there was no extension in the deadline
In a landmark ruling, the Supreme Court upheld the constitutional validity of the personal guarantor provisions found in the Insolvency and Bankruptcy Code (IBC). This opens the door for lenders to pursue recovery against individuals such as Kishore Biyani of Future Retail, Venugopal Dhoot of Videocon Industries, and Anil Ambani of ADA Group. ET explains how the sequence has implications
India Business News: Future Retail, the bankrupt company owned by Kishore Biyani, may be headed for liquidation after its resolution plan was rejected by lenders. The inso
Future Retail confirmed the insolvency professional's move to initiate the liquidation process. The application for liquidation under Section 33 of the Insolvency and Bankruptcy Code, 2016, was filed with the National Company Law Tribunal (NCLT), Mumbai bench, on November 9.
Future Retail, the debt-ridden company once owned by Kishore Biyani-led Future Group, is now facing liquidation as its lenders could not find a suitab