Biyani’s Future Retail

NCLT orders liquidation of Biyani-led Future Retail as resolution eludes

The National Company Law Tribunal on Monday allowed the liquidation of Kishore Biyani-led Future Retail as the maximum period of the corporate insolvency resolution process (CIRP) has expired with no resolution plan approved by the lenders. The Mumbai bench of NCLT appointed Sanjay Gupta as the liquidator in the matter. The tribunal, led by Anil Raj Chellan and Kuldip Kumar Kareer, in the order said, "Looking at the application and averments made therein, it is evident that the maximum period of the CIRP has expired and no Resolution Plan has been approved by the CoC. "We are of the considered opinion that this is a fit case for liquidation. Therefore, we hereby order the liquidation of the Corporate Debtor." The decision comes after the resolution professional, Vijaykumar V Iyer, failed to get any resolution applicants to turn around the insolvent company. In November 2023, the resolution professional of Future Retail filed an application before NCLT Mumbai, seeking liquidation o

SAT quashes Sebi order on Future Corporate Resources, Kishore Biyani

In an order issued in February 2021, the market regulator had restrained them from accessing the securities market for different periods

SAT quashes Sebi's order against Biyani, others in insider trading case

The Securities Appellate Tribunal (SAT) on Wednesday quashed regulator Sebi's order banning Future Retail chairperson Kishore Biyani and some other promoters from the securities market for one year in an insider trading case. Dismissing the Sebi's order, the appellate tribunal said that the entities did not trade in the shares of Future Retail Ltd (FRL) on the basis of unpublished price sensitive information (UPSI) relating to demerger as such information was already in public domain through multiple media reports. "We are satisfied that the information relating to de-merger was already in the public domain and, therefore, trading done by the appellants in the shares after the publication of the interviews and news reports cannot be considered as trading while in possession of UPSI. Thus, the charge in the show cause notice fails and the findings given by the WTM cannot be sustained. The impugned order is quashed," a bench comprising Presiding Officer Tarun Agarwala and Technical ...

Financial creditors to Future Retail place claims worth Rs 21,000 cr

60% of such claims are from state-owned banks and other creditors, shows data on company's website

Amazon sends legal notice to Future Group over Reliance deal: Report

Amazon, in its legal notice, cited a contract arrangement that included "a restricted list" of companies Future was not supposed to enter deals with, according to the report

Future Retail, Future Lifestyle: How Future Group stocks look on the charts

Future Consumer faces a stiff resistance around Rs 12.50 levels. Here's a look at how the Future Group stocks look on charts.

Blackstone invests Rs 1,750 cr in Kishore Biyani's Future Lifestyle Fashion

With this transaction, Blackstone will be the only financial partner in Ryka

Biyani's Future Retail merges stores to boost throughput

Firm has merged 69 shops of its electronics and durable chain Ezone into larger stores