Kishore Biyani

The letter was received by the by resolution professional through e-mail on Tuesday

Almost one and a half months after resigning from the suspended board of debt-ridden Future Retail Ltd, Kishore Biyani has withdrawn his resignation. The Resolution Professional of Future Retail Ltd (FRL), which is currently going through an insolvency resolution process, had raised objections to the contents of Biyani's resignation letter and had requested him to recall it. "Kishor Biyani has now withdrawn his resignation by way of his letter dated 10th March 2023," FRL informed the bourses. Earlier this week, the RP of FRL filed an application before the National Company Law Tribunal (NCLT) against the former and present directors of the company for causing a loss of Rs 14,809.44 crore to creditors. In the application filed before the Mumbai bench of the NCLT, the Resolution Professional (RP) has sought direction from the tribunal against the present and erstwhile directors of FRL "to contribute the amount to the company", Future Retail Ltd (FRL) said in a regulatory filing. Biy

The All India Garment Manufacturers & Vendors Association (AIGMVA) has demanded that Future Group owner Kishore Biyani should pay up their dues of over Rs 200 crore pending since 2019, here on Wednesday.

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Biyani's resignation was also received by the resolution professional on January 24

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FLFL - in its filing with the BSE - said Saraf and Partners, advocates, on behalf of BoI, has served a petition under Section 7 of the IBC 2016

Debt-ridden Future Enterprises Ltd is now facing a second plea filed by an operational creditor of the company before National Company Law Tribunal to initiate insolvency proceedings. The latest petition is filed against Future Enterprises by Retail Detailz India, claiming default of Rs 4.02 crore before the Mumbai bench of the National Company Law Tribunal (NCLT). "The Company has received e-filing confirmation from NCLT with respect to the filing of an application by an Operational Creditor Retail Detailz India Private under section 9 of the IBC for an alleged default amount of Rs 4.02 crore," Future Enterprises said in a late evening filing on Tuesday. No further date has been allotted so far for hearing the said application, it added. Last week, another operational creditor, Foresight Innovations, had filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) 2016, for an alleged default amount of Rs 1.58 crore before the Mumbai bench of NCLT. The next da

Debt-ridden Future Enterprises Ltd (FEL) said it has defaulted on payments of interest of two non-convertible debentures totalling Rs 12.68 crore. The due date for payment was August 17, 2022, FEL said in a regulatory filing. "The company is unable to service its obligations in respect of the interest on Non-Convertible Debentures (NCDs) due on August 17, 2022," it said on Thursday. The debentures are secured with a coupon rate of 9.60 per cent per annum. The interest amount was payable for the period between February 16 and August 17, 2022, it said. The amount of securities issued was Rs 106 crore and Rs 159 crore, totalling Rs 265 crore. Earlier this week FEL informed exchanges that an operational creditor of the company has filed a plea before the National Company Law Tribunal to initiate insolvency proceedings against the firm. The Future group firm has missed the interest payment of several NCDs in the last three months. FEL was part of the 19 Future group companies operat

According to a banking source close to the development, the loans are expected to be sold in the second half of the current financial year

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Appellate tribunal upheld CCI order suspending digital commerce platform's investment in Future group in 2019

NCLT has passed the order after allowing the petition filed by Bank of India (BoI) following loan defaults by FRL -- the flagship firm of the Kishore Biyani-led group

A plea seeking initiation of insolvency resolution proceedings against Future Retail Ltd (FRL) was filed by Bank of India (BoI), the lead banker in the consortium of lenders of the company

The latest default is on the interest of securities issued for a sum of Rs 29 crore

The Income Tax Department's new-look tax return filing portal, developed by Infosys, again developed snags on Tuesday - a day that marked the first anniversary of its unveiling.

Last week, Future Retail's Managing Director Rakesh Biyani stepped down, while officials including the company secretary of the debt-ridden firm tendered resignation