Representative Image Mumbai: SpaceMantra, the winning bidder to take over Kishore Biyani‘s retail brand outlet Future Lifestyle Fashions (FLFL), has withdrawn its resolution plan for the company days before lenders overwhelmingly voted for it, putting creditors of the debt-laden company in a quandary. SpaceMantra, promoted by former NBCC chairman Anoop Kumar Mittal, along with two…
Representative image New Delhi: The lenders of Future Lifestyle Fashions Ltd, going through insolvency resolution, have approved the bid from a consortium of Space Mantra and Sandeep Gupta & Shalini Gupta. The Committee of Creditors (CoC) of Future Lifestyle Fashions Ltd (FLFL) has voted in favour of the resolution plan submitted by the consortium, according…
The sale of Future Lifestyle Fashions (FLFL) under the corporate insolvency process has run into a roadblock due to a conflict of interest between promoter Kishore Biyani and the forensic auditor appointed by lenders, people aware of the development said. Dilip Dixit had undertaken an assignment for one of the Biyani-promoted company before FLFL was…
