Future Lifestyle Fashions (FLFL), a Kishore Biyani-promoted company, has received two resolution offers from scrap dealer Space Mantra and fashion retailer Donear Industries. Space Mantra s Rs 550-crore offer for Future Retail was rejected by lenders due to its low price. Donear Industries-owned textile maker GBTL showed interest in acquiring Future Enterprises, but did not submit a resolution plan.
Future Lifestyle Fashions (FLFL), a Kishore Biyani-promoted company, has received two resolution offers from scrap dealer Space Mantra and fashion retailer Donear Industries. Space Mantra s Rs 550-crore offer for Future Retail was rejected by lenders due to its low price. Donear Industries-owned textile maker GBTL showed interest in acquiring Future Enterprises, but did not submit a resolution plan.
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Kolkata-based Jindal's plan was the only one that was submitted to the creditors till last week, as per the report. November 10 was the last date to submit the resolution plans for Future Enterprises Limited.
The NCLT had granted four extensions to FRL for completion of the CIRP and the last date was September 30. After that there was no extension in the deadline