The case involves an application (IA No. 5742 of 2023) filed by Dheeraj Reddy Jinna, a Prospective Resolution Applicant (PRA) in the Corporate Insolvency Resolution Process (CIRP) of Future Retail Limited (Corporate Debtor). The applicant sought directions from the NCLT to compel the Resolution Professional (RP), Vijay Kumar V Iyer, to share necessary information and provide access to the data room to enable the applicant to submit a resolution plan with a financial proposal. The applicant also requested that the liquidation application filed by the RP be kept in abeyance pending the disposal of the interlocutory application.
The Corporate Insolvency Resolution Process (CIRP) of Future Retail Limited was initiated on 20.07.2022 following an application by Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016. After the initiation of CIRP, a Form-G was published on 04.10.2022, inviting Expression of Interest (Eol) from potential resolution applicants, with a submission deadline of 20.10.2022. Dheeraj Reddy Jinna, the applicant, expressed interest in submitting a resolution plan via email on 20.10.2022. The RP reissued Form-G on 23.03.2023, setting a new Eol submission deadline of 07.04.2023. The applicant sent an email on 05.04.2023, attaching a copy of Eol and a joint undertaking under Section 29A. The applicant objected to the inclusion of "Reliance Retail Ventures
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CIRP of Future Retail…
Publication of Form-G inviting Expression of…
The case involves an application (IA No. 5742 of 2023) filed by Dheeraj Reddy Jinna, a Prospective Resolution Applicant (PRA) in the Corporate Insolvency Resolution Process (CIRP) of Future Retail Limited (Corporate Debtor). The applicant sought directions from the NCLT to compel the Resolution Professional (RP), Vijay Kumar V Iyer, to share necessary information and provide access to the data room to enable the applicant to submit a resolution plan with a financial proposal. The applicant also requested that the liquidation application filed by the RP be kept in abeyance pending the disposal of the interlocutory application.
The Corporate Insolvency Resolution Process (CIRP) of Future Retail Limited was initiated on 20.07.2022 following an application by Bank of India under Section 7 of the Insolvency and Bankruptcy Code, 2016. After the initiation of CIRP, a Form-G was published on 04.10.2022, inviting Expression of Interest (Eol) from potential resolution applicants, with a submission deadline of 20.10.2022. Dheeraj Reddy Jinna, the applicant, expressed interest in submitting a resolution plan via email on 20.10.2022. The RP reissued Form-G on 23.03.2023, setting a new Eol submission deadline of 07.04.2023. The applicant sent an email on 05.04.2023, attaching a copy of Eol and a joint undertaking under Section 29A. The applicant objected to the inclusion of "Reliance Retail Ventures
…CIRP of Future Retail…
Publication of Form-G inviting Expression of…