3 Future group firms to file claims before interim resolution professional

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

Three listed Future group firms will file their claims before the Interim Resolution Professional (IRP) of Future Retail (FRL), against which insolvency proceedings have been initiated by NCLT earlier this week.

The three companies — Future Consumer, Future Enterprises and Future Supply Chain Solutions — in their respective regulatory filings informed that they have significant amount of receivables from FRL against the transactions undertaken in the course of the business.

"With the initiation of the CIRP (Corporate Insolvency Resolution Process) in FRL, the company would be required to quantify its receivables and submit claim before the IRP as per the provisions and