Debt-laden Future Retail has received approval from the bankruptcy court to extend the date to complete its resolution process by another 90 days to July 15. The current deadline is April 16.
The Mumbai bench of the National Company Law Tribunal (NCLT), which heard the petition filed by Futture Retails resolution professional on Thursday, granted the exclusion of 90 days from the Corporate Insolvency Resolution Process, the company said in a stock exchange update.
The order was pronounced orally by NCLT Thursday, and a written order is awaited, it said.
On April 10, Future Retail had said it has received 49 expressions of interest from prospective resolution applicants, including from Reliance Industries, Adani Group and Jindal Power,…
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