 "Bank of India")
Bank of India, which has moved an insolvency petition against Future Retail under Section 7 of the Insolvency and Bankruptcy Code (IBC), is contesting the maintainability of US based e-commerce giant Amazon’s intervention application, saying it was a stalling tactic adopted by the e-commerce giant to delay the admission of the petition.
The Mumbai bench of National Company Law Tribunal (NCLT) will first decide on the maintainability of Amazon’s intervention application and then proceed with the larger matter of admitting the Section 7 petition against Future Retail.
The matter has been adjourned to June 10. The dedicated bankruptcy tribunal has asked Bank
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