MUMBAI: As many as 48 firms, including Reliance Retail, Adani Group-backed April Moon Retail, Jindal Power, UK-based travel retailer WH Smith Travel, and JC Flowers have made it to the final list of eligible prospective resolution applicants for acquiring debt-ridden Future Retail Ltd (FRL), which is going through the insolvency resolution process.
The Resolution Professional of FRL, on Monday, released the final list of ‘Eligible Prospective Resolution Applicants’. On April 10, FRL’s Resolution Professional (RP) updated a list of 49 firms, which had submitted expressions of interest (EoIs) after the FRL lenders decided to invite fresh bids after dividing its assets into clusters. April Moon Retail Pvt Ltd is a joint venture between Flemingo Group and Adani Airport Holdings.
Some of the other players who had submitted EoIs include Sahara Enterprises, Century Copper Corp, Greentech Worldwide, Harsha Vardhan Reddy, Pinnacle Air Pvt Ltd and Universal Associates.
“Bommidala Enterprises which had earlier submitted an EoI and was included in the provisional list of PRAs, has not been included in the final list, on account of receipt of communication from them indicating that they will not be submitting a resolution plan,” said Future Retail in filing to the BSE on Monday.
Earlier this month, the Mumbai-based NCLT bench granted FRL an extension of 90 days till July 15, 2023, for concluding the Corporate Insolvency Resolution Process (CIRP).
Other players include Sahara Ent, Century Copper
Some of the other players who had submitted Expressions of Interest (EoIs) include Sahara Enterprises, Century Copper Corp, Greentech Worldwide, Harsha Vardhan Reddy, Pinnacle Air Private Limited and Universal Associates