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The resolution professional of debt-ridden Future Retail Ltd has approached the National Company Law Tribunal, seeking a further extension till September 15 to complete the corporate insolvency resolution process. The RP has moved an application before the Mumbai bench of NCLT, to exclude a period of 29 days from CIRP of Future Retail.
According to the ARC, Neptune Ventures owes it ₹402 crore. At the tribunal, the developer opposed the petition on the ground of limitation, as it was filed in July 2022, more than three years from the date of a payment default.
According to the ARC, Neptune Ventures owes it ₹402 crore. At the tribunal, the developer opposed the petition on the ground of limitation, as it was filed in July 2022, more than three years from the date of a payment default.