Kishore Biyani resigns as executive chairman and director of Future Retail

Biyani's resignation was also received by the resolution professional on January 24

Kishore Biyani has resigned as executive chairman and director of Future Retail and his resignation has been placed before the Committee of Creditors, as per the Insolvency and Bankruptcy Code, the company said in an exchange filing.

Biyani’s resignation, dated January 23, was received by the resolution professional on January 24 via email.

“Nothing herein should be construed as an acceptance of the contents of the resignation letter tendered by Kishore Biyani, including in respect of his submissions in the resignation letter on information handover,” the exchange filing said.

Troubles began mounting for Future Retail because of high debt which