The hearing of Amazon's plea, initiating insolvency proceedings against debt-ridden Future Retail Ltd has been adjourned by the National Company Law Tribunal (NCLT) until June 14. A plea seeking initiation of insolvency resolution proceedings against Future Retail Ltd (FRL) was filed by Bank of India (BoI), the lead banker in the consortium of lenders of the company.
Amazon-Future dispute: The bench said the SIAC tribunal would pass an appropriate order on a plea of FRL filed under a provision of the Arbitration and Conciliation Act
Amazon Inc. and Future Retail Ltd. (FRL) agreed to appear before the Singapore Arbitration Tribunal, even as the long-running and bitter legal battle and the resultant accusing-and-the retort continue.