Jindal (India), which is part of the BC Jindal Group, has emerged as the sole bidder for Kishore Biyani’s Future Enterprises Limited (FEL). According to a report in Economic Times, Kolkata-based steel tubes and pipes maker Jindal’s plan was the only one that was submitted to the creditors till last week. November 10 was the last date to submit the resolution plans for FEL.
Mukesh Ambani-controlled Reliance Retail was earlier in the race to acquire the company. It had sought time till October 30 to take a call on its bid for Future Enterprises. There has been no update on this following that.
“There is only one bidder after the extensions. Lenders will now scrutinise the plan and seek clarifications. There has been no further extens…
Read the full article at: https://www.businesstoday.in/latest/corporate/story/future-enterprises-insolvency-jindal-india-emerges-as-the-sole-bidder-for-kishore-biyanis-company-says-report-405516-2023-11-13