Future Retail: NCLT reserves order on Amazon petition against BoI’s plea

The National Company Law Tribunal (NCLT) on Monday reserved its order on the petition filed by Amazon opposing Bank of India’s plea to initiate insolvency resolution proceedings against debt-ridden Future Retail Ltd (FRL).

After hearing the arguments of Amazon and Bank of India (BoI) on Monday, the tribunal directed the e-retailer to submit its written response to the lender’s submission by Thursday.

The Mumbai bench of the NCLT, headed by Pradeep Narhari Deshmukh and Shyam Babu Gautam, reserved the order on the matter.