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The Times of India

Business

PTI

Bank of India moves NCLT against Future Retail, files insolvency plea

Bank of India Future FRL Amazon Future Group Future Retail Ltd New Delhi Kishore Biyani

NEW DELHI: Bank of India has moved the National Company Law Tribunal (NCLT), filing a petition to initiate insolvency proceedings against debt-ridden Future Retail Ltd.

Earlier this month, Future Retail Ltd (FRL) had reported a default of Rs 5,322.32 crore to its lenders on account of the ongoing litigations with e-commerce major Amazon and other related issues.

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