The final list, which is with Future Retail’s resolution professional Vijay Kumar Iyer, includes prominent names like Reliance Retail, April Moon Retail, Jindal Power, JC Flower Asset Management Company and UV Stressed Asset Management.
Image Credit source: Representative Photo
The list of people having interest in Kishore Biyani’s Future Retail has become long. 55 names have come out in the final list. Out of which 49 names were there earlier also, which were later canceled. Seven new names have been added to it. The number of resolution applicants has increased to 55. Future Retail is going through the Corporate Insolvency Resolution Process ie CIRP.
Reliance Retail, April Moon Retail (a joint venture between Adani Airport Holdings and promoters of the Flamingo Group), Jindal Power, JC Flower Asset Management Company and UV Stressed Asset Management are some of the prominent names in the final list held by resolution professional Vijay Kumar Iyer. Are included. All these were also in the list of 49 companies announced in November last year.
7 new names surfaced
The 7 new names that have been included in this list include Harshal Shroff, Ferile Global, Darwin Platform Industries Limited and Darwin Platform Group of Companies, SNVK Hospitality and Management, SF Recycling, AJ Scrap Traders and All India Furniture. Bommidala Enterprises, which had shown interest earlier and was also named in the provisional list of EOI, has not been included in the final list.
Process to be completed by July 23
Delhi High Court lawyer Shashank Aggarwal said that the corporate insolvency resolution process under the IBC is a time bound process. It should be completed within the specified period. Now this time has been extended for another 90 days and it is almost till July 15, 2023. Currently, Future Retail owes its financial and operational creditors more than Rs 17,000 crore, while claims of Rs 21,000 crore have been placed under CIRP.
about 5 percent increase
A day earlier i.e. on Monday, the shares of Future Retail saw a rise of about 5 per cent. The company’s stock closed at Rs 3.11, up 4.71 per cent. By the way, the company’s stock had opened at Rs 2.97 and also went on the day’s loan with Rs 2.90. By the way, the company’s 52-week high is Rs 30.45. The market cap of the company has come down to Rs 168.65 crore.