Insolvency plea: NCLT grants FRL time till June 6 to file reply

UMBAI: The National Company Law Tribunal (NCLT) on Thursday granted additional time till June 6 to Future Retail Ltd (FRL) to file its reply on the insolvency plea filed by Bank of India.

FRL'S counsel Shyam Kapadia told the tribunal that the company has not been able to file the reply in the matter due to difficulties following resignations of its officials and sought more time.

Ravi Kadam, the counsel of Bank of India, said the lender was not concerned with the third party dispute at FRL and emphasised that it was an Interim Resolution Professional (IRP) take control of the company.

After hearing the counsels, the tribunal granted additional time till June 6 to FRL to file the reply. Meanwhile, Amazon moved an intervention application against Bank of India petition.