3 Future group firms to file claims before interim resolution professional

Three listed Future group firms will file their claims before the Interim Resolution Professional (IRP) of Future Retail (FRL), against which insolvency proceedings have been initiated by NCLT earlier this week.

The three companies — Future Consumer, Future Enterprises and Future Supply Chain Solutions — in their respective regulatory filings informed that they have significant amount of receivables from FRL against the transactions undertaken in the course of the business.

“With the initiation of the CIRP (Corporate Insolvency Resolution Process) in FRL, the company would be required to quantify its receivables and submit claim before the IRP as per the provisions and process prescribed under the code including applicable rules made thereunder,” said the three Future Group companies in their respective filings on Thursday.