Future Retail, once the crown jewel of Kishore Biyani-led Future Group, is now heading for liquidation as its lenders could not get any reasonable buyer of the debt-ridden firm. As the Committee of Creditors (CoC) rejected the sole resolution plan submitted by Space Mantra after four extensions in the deadline to complete the corporate insolvency resolution process (CIRP), the RP of the company has now approached NCLT to initiate liquidation of Future Retail (FRL). "The resolution plan submitted by Space Mantra Private has not been approved by CoC of FRL, kindly note that, the Resolution Professional (RP) has filed an application, before the National Company Law Tribunal, Mumbai Bench, for initiation of liquidation of FRL," said a regulatory filing from FRL.
The Supreme Court on Thursday refused to entertain a petition challenging the validity of section 8 (3) of the Representation of the People Act which deals with automatic disqualification of MPs and state legislators upon being convicted and sentenced for two years or more in a criminal case.
Aviation watchdog DGCA will conduct a special audit of grounded airline Go First's facilities in the national capital and Mumbai from July 4 to 6 before approving the revival plan for resumption of flights, according to a senior official. Cash-strapped Go First stopped flying on May 3 and is undergoing a voluntary insolvency resolution process. Meanwhile, a senior executive at the airline expressed hope of resuming ticket sales -- which was paused by DGCA following the grounding of the carrier -- from July 7 or July 8 and subsequent relaunch of the operations from middle of next month.
"Bowlers were going to be a hot property," says De Villiers on Starc's historic bid
Trinamool Congress is the second highest recipient of political donations through electoral bonds.
The petition, which was filed in the apex court on Tuesday by Lucknow-based advocate Ashok Pandey, said it is challenging the August 7 notification issued by the Lok Sabha restoring Gandhi's membership.
Sarfaraz Khan's dominating performance against England's spinners in just his debut Test was no fluke.
In his post, Gandhi urged people to elect the Congress and said, "Rajasthan will choose free treatment. Rajasthan will choose cheaper gas cylinder. Rajasthan will choose interest-free agricultural loan. Rajasthan will choose English education. Rajasthan will choose OPS. Rajasthan will choose caste census."
The Election Commission (EC) must have the power to deregister a political party in case of a violation of the mandatory conditions for registration and for breach of laws, the Supreme Court was told by a petitioner on Monday.
The Election Commission (EC) had, in 2019, flagged its concerns in the Supreme Court on the changes made in several laws relating to political funding to facilitate the electoral bonds scheme, saying it will have 'serious repercussions' on transparency.
Manchester City will return to action in the UEFA Champions League on Wednesday against RB Leipzig at the Etihad Stadium.
'People in politics have lost the value of being connected to their own people.' 'Now it's all about vote share, vote bank, how many parties can you break and make them join you.'
It was delight for owner Nita Ambani and elder son Akash Ambani as five-time champions Mumbai Indians demolished Lucknow Super Giants in the IPL Eliminator match.
It's forever summertime on her Insta timeline.
The Supreme Court on Monday dismissed a PIL seeking to allow secret ballot in polls for the Rajya Sabha and state legislative councils, observing that the open ballot system is needed to "prevent cross voting and maintain party discipline".
The CAC's immediate task is picking replacements for outgoing selectors MSK Prasad and Gagan Khoda.
Aviation regulator DGCA on Tuesday started the special audit of the facilities of Go First, which has sought approval for restarting operations. A team of officials from the Directorate General of Civil Aviation (DGCA) started the special audit of the facilities of Go First in Mumbai on Tuesday, according to an airline executive. The audit of the facilities will be done on Wednesday also.
Sridhar Kalyanasundaram, an independent director of private sector lender Dhanlaxmi Bank, has resigned from the board with effect from September 16. In his resignation letter, Kalyanasundaram has raised issues like factionalism in the board, his differences regarding rights issue and the alleged 'lack of in depth banking knowledge' in other members. This comes after Ravindran Pillai, head of RP Group, who holds 9.99 per cent stake in the bank (largest shareholder), came out with a special notice for removal of Kalyanasundaram.
One of the private eye care hospitals in Delhi has reported 1,032 cases of conjunctivitis in Delhi-NCR and 1,521 cases pan India.
BJP MLA and complainant Purnesh Modi, in his reply filed earlier in the same court, opposed Gandhi's plea for a stay on conviction saying the Congress leader is a 'repetitive offender' who is in the habit of making defamatory statements.
His statement came in the backdrop of media reports of construction of a ropeway at Torsa Nala near Doklam by the Chinese People's Liberation Army.
Former India cricketer Aakash Chopra is not pleased with the experimentation and felt Rohit Sharma and Virat Kohli did not require rest for this match.
Deepa Gahlot lists some interesting made-for-OTT hostage dramas that you can watch.
R P Ravichandran, one of the six convicts who was released on Saturday in the assassination case of former prime minister Rajiv Gandhi, said that the people of north India should see them as 'victims instead of terrorists or killers'.
Mohun Bagan accused Kolkata Knight Riders of high-handedness after their jersey-wearing fans were denied entry into the Eden Gardens.
A court in Surat in Gujarat on Thursday rejected Congress leader Rahul Gandhi's plea for stay on conviction in a defamation case that saw him being disqualified as Lok Sabha MP by observing he should have been "more careful with his words" since he was a member of Parliament and the then president of the country's second largest political party.
The MLA appeared before the court of additional sessions judge RP Mogera and filed a 30-page objection to the former Congress president's plea for staying his conviction, his lawyer Ketan Reshamwala said.
The 52-year-old Congress leader reached Surat in the afternoon via a scheduled commercial flight along with sister Priyanka Gandhi Vadra and proceeded to the sessions court.
The Madras high court on Thursday declared invalid the 2019 election of expelled All India Anna Dravida Munnetra Kaahagam member O P Ravindhranath from Tamil Nadu's Theni constituency.
At the same time, the amendment bill makes it clear that 'no application for inclusion of name in the electoral roll shall be denied and no entries in the electoral roll shall be deleted for inability of an individual to furnish or intimate Aadhaar number due to such sufficient cause as may be prescribed'.
Lucknow Super Giants will don Mohun Bagan's colours when they take on Kolkata Knight Riders during their final league game on Saturday.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The NCLT has granted Future Retail Ltd (FRL) an extension of 90 days for concluding the Corporate Insolvency Resolution Process (CIRP) of the company. Allowing FRL's plea the Mumbai bench of the National Company Law Tribunal (NCLT) has extended the deadline to July 15, 2023, for concluding the CIRP of FRL. "... NCLT on April 13, 2023, heard the application and granted the said exclusion of 90 days from CIRP of FRL and consequent extension for completion of CIRP till July 15, 2023," said a regulatory filing from the company.
The five-state assembly elections are seen as a now-or-never, no-holds battle for the Congress, points out N Sathiya Moorthy.
Chief ministers of 3 Congress-ruled states, other national and state party leaders are also likely to accompany Rahul to the court.
Shami is the leading wicket taker in the IPL with 17 scalps from nine games.
As the second season of The Night Manager hits the OTT screen, Deepa Gahlot looks back at the top spy thrillers on streaming platforms.
As many as 48 companies, including Reliance Retail, Jindal Power Ltd and Adani group, are in the final list of eligible prospective resolution applicants for acquiring debt-ridden Future Retail Ltd. The Resolution Professional of Future Retail Ltd (FRL), which is currently going through an insolvency resolution process, on Monday came out with the final list of 'Eligible Prospective Resolution Applicants'. On April 10, FRL's RP updated a list of 49 companies, which had submitted Expressions of Interest (EoIs) after the company's lenders decided to invite fresh bids after dividing its assets into clusters.
According to Outlook, Adani Group and the RP-Sanjeev Goenka Groups are no more the favourites to bag the new teams.
Congress leader Rahul Gandhi will be in Gujarat's Surat city on Monday to file an appeal before a sessions court against his conviction in a criminal defamation case, his lawyer said on Sunday.
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