FRETAIL

July 19 (Reuters) - Future Retail Ltd FRTL.NS:

• NCLT GRANTED APPLICATION SEEKING EXCLUSION OF 33 DAYS FROM CORPORATE INSOLVENCY RESOLUTION PROCESS OF CO

• CONSEQUENTLY, LAST DATE FOR COMPLETION OF CIRP OF FRL IS AUGUST 17, 2023

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BENGALURU, July 12 (Reuters) - The retail arm of Reliance Industries RELI.NS is among three companies eligible to submit a plan for the debt-ridden Future Enterprises FURE.NS's bankruptcy proceedings, Future's resolution professional disclosed in an exchange filing on Wednesday.

Indian billionaire Mukesh Ambani's Reliance Retail Ventures, galvanised steel sheet maker Jindal (India) and Donear Industries-owned textiles maker GBTL DONE.NS have been listed as prospective resolution applicants for the Future Group company, said Avil Menezes.

Menezes is a court-appointed resolution professional overseeing the company's affairs during the bankruptcy proceedings.

Reliance Retail is also among a list of 49 companies eyeing another Future Group company, Future Retail FRTL.NS.

Future Enterprises houses various businesses such as supply chain solutions and insurance, while Future Retail used to operate brands such as department chain Big Bazaar and supermarket chain Easyday.

Future Retail was dragged into insolvency proceedings by banks in July 2022 after it defaulted on loans and its lenders rejected a $3.4 billion buyout by Reliance amid a legal challenge by Amazon.com Inc AMZN.O. Future Enterprises was admitted to insolvency in March.

In May, Future Retail said it received six bankruptcy resolution bids without disclosing the names of the bidders.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman)

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BENGALURU, May 17 (Reuters) - Debt-ridden Future Retail Ltd FRTL.NS said on Wednesday it had received bids from six applicants in its insolvency resolution process.

The company did not disclose the name of the bidders.

Future Retail, once India's second-largest retailer, was dragged into bankruptcy proceedings by banks after it defaulted on loans and its lenders rejected a $3.4 billion buyout by Reliance Retail amid a legal challenge by Amazon.com Inc AMZN.O.

Earlier in the day, ET reported that Reliance Retail - the retail arm of Mukesh Ambani's Reliance Industries RELI.NS - and Gautam Adani-led Adani Group had opted out of the final bid.

A total of 49 bidders were eyeing to acquire the debt-laden giant in April this year.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sohini Goswami)

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April 12 (Reuters) - Future Retail Ltd FRTL.NS:

• FILED APPLICATION BEFORE NATIONAL COMPANY LAW TRIBUNAL, MUMBAI SEEKING EXCLUSION FROM CORPORATE INSOLVENCY RESOLUTION PROCESS

• SOUGHT EXCLUSION FOR 90-DAY PERIOD

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BENGALURU, April 10 (Reuters) - Companies led by Indian billionaires Gautam Adani and Mukesh Ambani, a British retailer and global asset reconstruction firms are among the 49 entities in the fray to acquire Future Retail Ltd FRTL.NS, the debt-laden Indian retailer said on Monday.

Reliance Retail, part of Ambani's Reliance Industries Ltd RELI.NS as well as April Moon Retail Pvt Ltd, a joint venture between Flemingo group and Gautam Adani-led Adani Airport Holdings, have submitted expressions of interest (EoIs), an exchange filing by Future Retail showed.

Other entities that have submitted EOIs include London-based retailer WH Smith SMWH.L, a consortium led by U.S.-based restructuring firm Gordon Brothers, J.C. Flowers Asset Reconstruction, India's Jindal Power, and individual investor Harsha Vardhan Reddy.

Future Retail's court-appointed resolution professional held a second round of EoIs since the first did not have enough participants, the Economic Times daily reported.

Future Retail, once India's second-largest retailer, was dragged into bankruptcy proceedings by banks after it defaulted on loans and its lenders also rejected a $3.4 billion buyout by Reliance amid a legal challenge by Amazon.com Inc AMZN.O.

Reliance Retail, Jindal Power, J.C. Flowers, WH Smith and Gordon Brothers did not immediately respond to emails seeking comment.

(Reporting by Anuran Sadhu in Bengaluru; Editing by Savio D'Souza)

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