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 committee of creditors will meet on Wednesday (12 July), the company’s Resolution Professional Avil Menezes said in a stock exchange announcement. He didn’t provide further details.

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

A majority of the company’s creditors recently voted to appoint Menezes as its resolution professional, replacing Interim Resolution Professional Jitender Kothari.

The creditors had recently extended the last date for submitting the expression of interest for the company by five days to 30 June.

The provisional list of suitors is likely to be issued on 10 July, while the deadline for submission of resolution plans is 24 August.

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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