Future Retail has given this information in the information given to the stock markets. The company has said that its executive chairman and director Kishore Biyani has submitted his resignation.
New Delhi:
Industrialist Kishore Biyani has resigned from the board of Future Retail Ltd. Along with this, he has left the post of chairman and director of the debt-ridden company. Future Group is currently undergoing bankruptcy proceedings before the NCLT. Future Retail is facing insolvency proceedings for defaulting on a loan from Bank of India.
Future Retail has given this information in the information given to the stock markets. The company has said that its executive chairman and director Kishore Biyani has submitted his resignation. Now his resignation will be placed before the Committee of Creditors (CoC) under the Insolvency and Bankruptcy Code i.e. IBC.
Kishore Biyani was associated with Future Retail Limited (FRL) since 2007. He has said emotional things in his resignation letter. He said that as a result of unfortunate business circumstances, the company is facing the Corporate Insolvency Resolution Process.
किशोर बियानी ने कंपनी के रिजॉल्यूशन प्रोफेशनल को लिखे अपने इस्तीफे में कहा, " कंपनी हमेशा से मेरा पैशन रही है और मैंने इसके डेवलपमेंट के लिए अपना सब कुछ लगा दिया. लेकिन मुझे सच्चाई को स्वीकार करना होगा और आगे बढ़ना होगा."