Future Enterprises admitted for insolvency, NCLT appoints interim RP

Bench admits petition by Foresight Innovation, which puts the default anount at Rs 1.58 crore; Operational creditor Retail Detailz India's petition claims default of Rs 4.02 crore

The National Company Law Tribunal (NCLT) has ordered Insolvency Resolution Process against Future Enterprises, the company said in its exchange filing. 

The Mumbai bench of NCLT has also appointed Jitender Kothari as the interim resolution professional (IRP) in the case.  

NCLT said, “This Tribunal has already granted more than two and half months’ time to the Corporate Debtor to settle the amount. However, the Corporate Debtor has raised its hands. In view of the above facts and circumstances, this Bench has no option except to admit the above Company Petition.” 

The bench admitted the petition filed by Foresight Innovation, which has said