Financial creditors to Future Retail Ltd. have submitted a total claim of Rs. 21,058 crore under the ongoing insolvency resolution process, according to a document released on the company’s website.
A total of 33 banks have submitted these claims, of which Rs. 17,512 crore has already been verified by the resolution professional.
Bank of New York Mellon has submitted the largest claim of Rs. 4,670 crore, followed by Bank of Baroda at Rs.2,286 crore, Union Bank of India at Rs. 2,002 crore and Central Bank of India at Rs. 1,657 crore, amongst others.
The Mumbai bench of the National Company Law Tribunal (NCLT), on 20 June, ordered bankruptcy proceedings against debt-ridden Future Retail Ltd. and named an interim resolution professional for the Kishore Biyani-led company.
