Future Lifestyle Fashions Ltd (FLFL) has announced that claims worth Rs 3,477.28 crore from 17 financial creditors have been admitted in the ongoing Corporate Insolvency Resolution Process (CIRP). The State Bank of India and Centbank Financial Services Limited (Debenture Trustee) follow with loan amounts of Rs 476.59 crore and Rs 444.76 crore respectively. FLFL has also received claims of Rs 803.48 crore from operational creditors, which are currently under verification by the resolution professional. The employees/workmen of FLFL have submitted claims worth Rs 38.66 crore, which are also under verification. Future Retail Ltd and Future Enterprises, its flagship firm and logistics & infra-arm respectively, are already undergoing insolvency proceedings.

Source: The Telegraph July 10, 2023 19:10 UTC