13 companies including Reliance in final list of prospective buyers for FRL

Reliance Retail, Adani Group's JV April Moon Retail and 11 other companies have made it to the final list of prospective bidders for acquiring debt-ridden Future Retail Ltd. These companies have been included in the final list of prospective resolution applicants after receiving no objections from stakeholders concerned to the provisional list issued on November 10, said an update from Resolution Professional for Future Retail Limited (FRL). "No objections were received pursuant to the issuance of the provisional list of the prospective resolution applicants which was issued on November 10, 2022," as per the update. Besides Reliance Retail and April Moon Retail, other prominent entities in the race are Capri Global Holdings, Dharampal Satyapal, Nalwa Steel and Power, Shalimar Corp, SNVK Hospitality and Management, United Biotech and WH Smith Travel. FRL was dragged into insolvency proceedings by its lender Bank of India after it defaulted on loans. Its lenders rejected a Rs ...

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