Future Ent to quantify receivables from FRL and submit claims before IRP

The National Company Law Tribunal on Wednesday ordered insolvency resolution proceedings against Future Retail

Future Enterprises said it will quantify its receivables from Future Retail and submit its claim before the Interim Resolution Professional (IRP) as per the provisions and process prescribed under Section 7 of the Insolvency and Bankruptcy Code 2016, including applicable rules made thereunder, the company said in a stock exchange filing.

It said that it has substantial and significant amount of receivables from Future Retail as against the business transactions undertaken in ordinary course of