Future Retail up nearly 4% after Kishore Biyani withdraws resignation
The withdrawal came after the debt-ridden company, which is currently undergoing insolvency proceedings, said that the resolution professional objected to the contents of (Biyani's resignation) letter and requested him to recall the letter.
Future Retail Ltd - 540064 - Corporate Insolvency Resolution Process (CIRP)-Public Announcement
Intimation under Regulation 30 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations') for Withdrawal of resignation tendered by Executive Chairman and Director of Future Retail Limited ('the Company') Future Retail Ltd - 540064 - Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP)
In furtherance of our previous intimations to Stock Exchanges, kindly note that the Resolution Professional ("RP') of Future Retail Limited ("FRL') has filed an application before Hon'ble National Company Law Tribunal, Mumbai ("NCLT') against directors/ erstwhile directors of FRL under Section 66(2) and Section 67 read with Section 60(5) of the Insolvency & Bankruptcy Code 2016 (read with rules and regulations framed thereunder, 'Code'). As on date of filing of the said application, basis the limited information available, the RP has quantified the potential loss that has been caused to the creditors of FRL to be INR 14,809.44 crores, and has sought direction against the respondents to the said application to contribute such amount to FRL. Future Retail Ltd - 540064 - Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP)
In furtherance of FRL's previous intimations dated 21st October 2022, 10th November 2022 and 20th November 2022, we hereby inform you that the last date for submission of resolution plans for FRL was 20 February 2023 as per the Request for Resolution Plans dated 15 November 2022 (read with subsequent extensions granted by Committee of Creditors of FRL). On 20 February 2023, no resolution plans were received by RP. The matter was put for consideration of the Committee of Creditors in their 10th meeting held on 21st February 2023 and again at the 11th meeting held on 24th February 2023 (this meeting stands adjourned). Further course of action shall be decided by the Committee of Creditors, and accordingly shall be intimated to the stock exchanges. Future Retail Ltd - 540064 - Corporate Insolvency Resolution Process (CIRP)-Intimation of meeting of Committee of Creditors
Pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (LODR) and in accordance with the requirements of sub-clause 16(g) of Clause A of Part A of Schedule III of LODR, we hereby inform you that the Ninth Meeting of Committee of Creditors was held on 4th February 2023. The reason for delay of filling is that we have inadvertently, missed to file 9 COC intimation as of 04/02/23. Kindly take the above information on record. Future Retail Ltd - 540064 - Corporate Insolvency Resolution Process (CIRP)-Intimation of meeting of Committee of Creditors
Pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (LODR) and in accordance with the requirements of sub-clause 16(g) of Clause A of Part A of Schedule III of LODR, we hereby inform you that the Eleventh Meeting of Committee of Creditors was held on 24th February 2023. Kindly take the above information on record. Future Retail Ltd - 540064 - Corporate Insolvency Resolution Process (CIRP)-Intimation of meeting of Committee of Creditors
Pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 (LODR) and in accordance with the requirements of sub-clause 16(g) of Clause A of Part A of Schedule III of LODR, we hereby inform you that the Tenth Meeting of Committee of Creditors was held on 21st February 2023. Kindly take the above information on record.
Future Retail RP to move court against promoters
Mumbai: The resolution professional managing the insolvency of Kishore Biyani's flagship Future Retail Ltd will petition the National Company Law Tribunal (NCLT), alleging lack of cooperation from the company's promoters and statutory auditors Future Retail Chairman Kishore Biyani resigns
The resignation will be presented to the lenders of debt-strapped Future Retail for acceptance Future Retail Ltd - 540064 - Announcement under Regulation 30 (LODR)-Resignation of Chairman and Managing Director
With reference to the above and pursuant to Regulation 30 and other applicable provisions of SEBI Listing Regulations, read with Para A of Part A of Schedule III to SEBI Listing Regulations, this is to inform that Mr. Kishore Biyani (DIN: 00005740) has tendered a letter of his resignation from the position of the 'Executive Chairman and Director' of the Company with effect from 23rd January 2023 (intimation received by resolution professional ('RP') through e-mail on 24th January 2023). The resignation letter of Mr. Kishore Biyani shall be placed before the Committee of Creditors, as per the Insolvency and Bankruptcy Code, 2016 read with rules and regulations framed thereunder. Nothing herein should be construed as an acceptance of the contents of the resignation letter tendered by Mr Kishore Biyani, including in respect of his submissions in the resignation letter on information handover.