Future Enterprises’ Creditors To Meet This Week

Future Enterprises Ltd.’s committee of creditors will meet this week to discuss the company’s insolvency resolution.

The ninth meeting of the committee of creditors will be held on Friday (27 October), the company’s Resolution Professional Avil Menezes said in a stock exchange announcement. He didn’t provide further details.

In July, Menezes said Jindal (India) Ltd., Reliance Retail Ventures Ltd., and GBTL Ltd. were eligible to submit a resolution plan for the bankrupt company.

The Future Group company was admitted into insolvency resolution on 27 February 2023 following an application by its operational creditor Foresight Innovations Private Ltd.

Future Enterprises develops, owns and leases the retail infrastructure for the group, according to its website. The company also holds the group’s investments in subsidiaries and joint ventures, including insurance, textile manufacturing, supply chain and logistics.

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