THE NATIONAL COMPANY Law Tribunal's decision to allow the liquidation of the Kishore Biyani-promoted Future Retail Ltd (FRL) adds a fresh twist to a long tale. It comes because no resolution plan was approved by the lenders. In April 2022, the committee of creditors, led by Bank of India, filed an insolvency application against the company. In July of the same year, NCLT admitted Future Retail under insolvency.
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