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BoI takes Future Lifestyle to NCLT under bankruptcy code for due recovery

FLFL - in its filing with the BSE - said Saraf and Partners, advocates, on behalf of BoI, has served a petition under Section 7 of the IBC 2016

Future Lifestyle Fashions Ltd
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Catalyst Trusteeship has already taken FLFL under clause 7 of the IBC to NCLT for claims worth Rs 451.98 crore

Abhijit Lele Mumbai
Bank of India (BoI) has dragged Kishore Biyani-controlled Future Lifestyle Fashions (FLFL) to the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC) for recovery of dues.

FLFL — in its filing with the BSE — said Saraf and Partners, advocates, on behalf of BoI, has served a petition under Section 7 of the IBC 2016.

The company is in the process of taking legal advice in the matter.

Future Retail and Future Enterprises, both part of the Biyani-led group, are already in NCLT facing cases on payment defaults.

Catalyst Trusteeship has already taken FLFL under clause

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First Published: Aug 29 2022 | 9:58 PM IST

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