Future Retail insolvency process: 48 companies among eligible potential bidders
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New Delhi: As many as 48 companies have been included in the final list of eligible potential resolution applicants for acquisition of debt-ridden Future Retail Ltd. These include Reliance Retail, Jindal Power Limited and Adani Group. The resolution professional of Future Retail Limited (FRL) on Monday released the final list of ‘Eligible Potential Resolution Applicants’. The resolution professional of FRL had prepared a list of 49 companies on April 10. It was decided to call for fresh bids by splitting the assets into different parts to the lenders of FRL.
Thereafter, these 49 companies had submitted their Expression of Interest (EoI). Other companies that have submitted EOI include WHSmith Travel Limited, Sahara Enterprises, Century Copper Corporation, Greentech Worldwide, Harshvardhan Reddy, JC Flowers Asset Reconstruction Pvt Ltd, Pinnacle Air Pvt Ltd and Universal Associates. Earlier this month, the Mumbai bench of the National Company Law Tribunal (NCLT) had given a 90-day extension to the resolution process of FRL to be completed by July 15, 2023.
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