Future Group Kishore Biyani

The National Company Law Tribunal on Monday allowed the liquidation of Kishore Biyani-led Future Retail as the maximum period of the corporate insolvency resolution process (CIRP) has expired with no resolution plan approved by the lenders. The Mumbai bench of NCLT appointed Sanjay Gupta as the liquidator in the matter. The tribunal, led by Anil Raj Chellan and Kuldip Kumar Kareer, in the order said, "Looking at the application and averments made therein, it is evident that the maximum period of the CIRP has expired and no Resolution Plan has been approved by the CoC. "We are of the considered opinion that this is a fit case for liquidation. Therefore, we hereby order the liquidation of the Corporate Debtor." The decision comes after the resolution professional, Vijaykumar V Iyer, failed to get any resolution applicants to turn around the insolvent company. In November 2023, the resolution professional of Future Retail filed an application before NCLT Mumbai, seeking liquidation o

Only after Reliance Retail conveys its decision to Future Enterprises' creditors about its intent to either continue or walk out of the bidding process, will the bid be opened

Future Enterprises has received a three-month extension from the Registrar of Companies for holding its annual general meeting, a regulatory filing by the debt-ridden firm said. The Registrar of Companies, Mumbai, through a letter dated September 21, 2022, has accorded its approval to the company granting an extension for three months for holding the AGM of the company before December 31, 2022. "Accordingly, the aforesaid AGM of the Company would be held within the extended timeline," said FEL in late night filing on Wednesday. Earlier this month, another Future group firm - Future Lifestyle Fashions - had got a three-month extension for conducting its AGM. Section 96 of the Companies Act, 2013, mandates a company to hold AGM every year, within six months from the date of closing of the financial year. Moreover, there should not be a gap of more than 15 months between the two AGMs. However, the section also empowers RoC to extend by a period not exceeding three months, upon ...

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Kishore Biyani's retail chain was to sell 19 companies for Rs 24,713 crore as part of an agreement announcement in August 2020.

Future Retail is locked in legal battles with US retail major Amazon and has already become a non-performing asset NPA in the current quarter

In a statement to the stock exchanges, Future Retail said no financial or business impact on the company is expected as the arrangement was at the subsidiary company level

Future Retail Ltd Friday sought an early hearing in the Supreme Court on its fresh appeal against a recent Delhi High Court order

The Delhi High Court Tuesday said it will implement the single-judge order restraining Future Retail Ltd (FRL) from going ahead with the Rs 24,713 crore deal with Reliance Retail to sell its business

Financials fall due to Covid lockdowns, group posts Rs 5,943 cr loss on Rs 11, 723 cr sales

The Supreme Court has not stopped Future Group and Reliance Industries from working towards a deal.

This week, the Delhi High Court directed Biyani's flagship company to maintain the status quo on its Rs 24,713-crore deal to sell his business to Reliance

Future Retail said Sebi's one-year ban on its Chairperson Kishore Biyani from the securities market will have 'no impact' on the deal with Reliance

The Delhi High Court is hearing the appeal filed by Future Retail Limited (FRL) against the Court's order passed earlier this week

Future and Amazon are at loggerheads over the Indian group's August deal with Reliance Industries Ltd

Future Group Founder and CEO Kishore Biyani on Tuesday said Amazon was fully aware of his group's talks with Reliance Industries for the sale of retail assets

Questions thrown up by the case are salient to decide what sort of money India gets from world markets

Reliance Industries, too, dipped 2 per cent on the BSE

The deal between the retail arm of RIL and Future Group has brought back focus on the related stocks. Here are the key levels track before you make an investment in these stocks

Shares of RIL had hit an all-time high of Rs 2,198.70 on July 27, 2020.