Kishore Biyani Withdraws Resignation From Future Retail's Suspended Board
NDTV
"Kishor Biyani has now withdrawn his resignation by way of his letter dated 10th March 2023," FRL informed the bourses.
Almost one and a half months after resigning from the suspended board of debt-ridden Future Retail Ltd, Kishore Biyani has withdrawn his resignation.
The Resolution Professional of Future Retail Ltd (FRL), which is currently going through an insolvency resolution process, had raised objections to the contents of Mr Biyani's resignation letter and had requested him to recall it.
"Kishor Biyani has now withdrawn his resignation by way of his letter dated 10th March 2023," FRL informed the bourses.
Earlier this week, the RP of FRL filed an application before the National Company Law Tribunal (NCLT) against the former and present directors of the company for causing a loss of Rs 14,809.44 crore to creditors. In the application filed before the Mumbai bench of the NCLT, the Resolution Professional (RP) has sought direction from the tribunal against the present and erstwhile directors of FRL "to contribute the amount to the company", Future Retail Ltd (FRL) said in a regulatory filing.
