17 June 2022, Mumbai:
NCLT to hear Amazon’s plea against Future Retail’s insolvency on Monday.
The e-commerce giant’s counsel argued that FRL’s lenders had colluded with the company and hence bankruptcy court should not admit the case.
The National Company Law Tribunal (NCLT) has adjourned Amazon’s plea against a move by the Bank of India to put debt-laden Future Retail under the insolvency process.
The insolvency petition, filed in May, had come up for hearing before the Mumbai bench on Thursday.
The bench, led by Justice Pradeep Narhari Deshmukh, was hearing Amazon’s side on why its plea was maintainable and will take up the case again on Monday.
CREDITS: Business Line (The news article has not been edited by DFU Publications staff).
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