Biyani steps down as chairman of Future Retail

Wednesday 01st February 2023 05:24 EST

Kishore Biyani has resigned from his position as chairman of the board of the insolvent Future Retail, which is currently under suspension. Future Retail stated in a regulatory filing that Biyani had "tendered a letter of his resignation from the role of the 'executive chairman and director' of the firm."

His resignation “shall be placed before the committee of creditors, as per the Insolvency and Bankruptcy Code, 2016”, the company added.

On January 24, 2023, their Future Retail Ltd. (FRL) solution professional received notification via email. It further stated that "nothing above should be regarded as an acceptance of the contents of the resignation letter offered by Kishore Biyani, especially in respect to his submissions in the resignation letter on information handover."

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