Page 8 - Future Retail News Today : Breaking News, Live Updates & Top Stories | Vimarsana

On Friday, Lloyd Austin, the Defense Secretary of the United States, declared a collaborative effort between India and the US in the co-production of infantry combat vehicles, signifying a pivotal advancement in their defense industrial partnership. This revelation unfolds against the backdrop of heightened strategic cooperation between the two nations, a response to the escalating military assertiveness demonstrated by China.

The company in a regulatory filing said that the resolution plan submitted by Space Mantra has not been approved by the Committee of Creditors (CoC) of Future Retail.

Kishore Biyani: 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, once the crown jewel of Kishore Biyani-led Future Group, is now heading for liquidation as its lenders could not get any reasonable buyer of the debt-ridden firm. As the Committee of Creditors (CoC) rejected the sole resolution plan submitted by Space Mantra after four extensions in

The development comes within a fortnight of the lenders issuing a legal notice to Iyer for putting on the block inventories of Future Retail without seeking their approval. At a voting held on September 30, majority lenders rejected Space Mantra's '550-crore plan for Kishore Biyani-promoted Future Retail. Despite five weeks having passed, Iyer has not filed an application for liquidation before the National Company Law Tribunal (NCLT).