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HomeTOP NEWSBUSINESSKishore Biyani Resigns as chairman, director Future Retail

Kishore Biyani Resigns as chairman, director Future Retail

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NEW DELHI: Kishore Biyani As chairman of the debt-ridden board, he has resigned. Future RetailThe company is currently insolvency proceedings.
Biyani Has “tendered a letter of his resignation from the position of the ‘executive chairman and director’ of the company,” Future Retail In a regulatory filing
His Resignation “shall be placed before the Committee of Creditors, as per the Insolvency and Bankruptcy Code, 2016″The company was also renamed.
The Resolution professional Future Retail Ltd (FRL), received an e-mail intimation January 24, 2023.
“Nothing herein should be construed as an acceptance of the contents of the resignation letter tendered by Mr Kishore Biyani, including in respect of his submissions in the resignation letter on information handover,” It was also added.
FRL was brought into insolvency proceedings after its lender. Bank This is India After it defaulted upon loans.
Its lenders rejected a Rs Takeover of 19 by 24,713-crores Future group companies, including FRL, by Reliance A legal challenge is inevitable Amazon.

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