State-owned Central Bank of India has opened a new front to recover dues from the Biyanis, promoters of the debt-laden retail conglomerate Future Group that is facing bankruptcy proceedings. The bank has filed a...
Reliance retail arm acquires control of Insight Cosmetics
Reliance Retail Ventures Ltd (RRVL) has bought a controlling stake in makeup and personal care brand Insight Cosmetics, said two people aware of the deal, marking the entry of the billionaire Mukesh Ambani-owned company...
Korean cosmetic giant Amorepacific to buy U.S. luxury skincare brand Tata Harper
South Korea-based personal products maker Amorepacific Corp will buy Natural Alchemy LLC, which operates the luxury beauty brand Tata Harper, as part of a strategic push to tap into the growing North American market...
Bank of India initiates bankruptcy process against Future’s fashion unit
A lead lender to India’s Future Lifestyle has dragged the fashion retailer to bankruptcy, the company told the stock exchange on Monday, adding that it was seeking legal advice on the matter. Future Lifestyle said...
Debt-ridden Future Enterprises faces second plea to initiate insolvency
Debt-ridden Future Enterprises Ltd is now facing a second plea filed by an operational creditor of the company before National Company Law Tribunal to initiate insolvency proceedings. The latest petition is filed...
Mobile World plans stake sale of $1.5 bln Vietnamese grocery unit
Vietnam’s Mobile World Investment Corp said it has hired an adviser to explore the sale of up to 20% of its Bach Hoa Xanh grocery chain in a deal sources familiar with the matter said would value the business at...
Future Retail creditors file claims worth Rs 21,324 cr before IRP
Creditors of Future Retail Ltd have submitted claims worth Rs 21,324.18 crore against the debt-ridden company presently facing an insolvency resolution process. The financial creditors of the companies, which mainly...
Future Retail lenders claim ₹21,058 crore dues under insolvency resolution
Financial creditors to Future Retail Ltd have submitted loan claims to the tune of ₹21,058 crore under the ongoing insolvency resolution process, showed a document available on the company’s website. A total of 33 banks...
Insolvency plea against Future Enterprises filed in NCLT
Debt-ridden Future Enterprises Ltd said an operational creditor of the company has filed a plea before the National Company Law Tribunal to initiate insolvency proceedings against it. Future Enterprises Ltd (FEL), part...
Judge approves Asurion’s $110 million purchase of Enjoy Technology
Online retailer Enjoy Technology Inc received approval from a U.S. bankruptcy court on Friday to sell its business to technology repair company Asurion LLC for $110 million. U.S. Bankruptcy Judge J. Kate Stickles in...
Lenders opt for forensic audit of Future Retail
Lenders led by Bank of India have appointed BDO India to conduct a forensic audit of Future Retail(FRL), which is facing insolvency proceedings, said two people with knowledge of the matter. Kishore Biyani-led Future...
Future Lifestyle Fashions to sell identified assets after receiving lenders’ nod
Debt-ridden Future Lifestyle Fashions Ltd (FLFL) said its board has considered and approved the proposed sale of certain identified assets of the company. The company in a regulatory filing said the assets contributed...
