With big companies staying away from bidding for Future Retail, its resolution professional, seeking to maximise value, has filed petitions with the National Company Law Tribunal for avoidance transactions worth over ₹1,000 crore.

Future Retail RP files plea with NCLT for avoidance transactions worth over ₹1,000 crore

PINNACLE Air Bids for retail travel business of Future Retail

The resolution professional for Future Retail has filed an application with the National Company Law Tribunal, requesting the return of ₹839 crore paid to group company Future Consumer.

Future Retail’s RP seeks return of ₹839 crore paid to Future Consumer

SpaceMantra, which is promoted by former NBCC chairman Anoop Kumar Mittal, has offered Rs 550 crore for the takeover deal. Earlier, Mukesh Ambani-led Reliance Retail and Gautam Adani-led Adani Group backed out of the race to bid for Future Retail.

Future Retail bankruptcy: SpaceMantra emerges as the only bidder, claims report

Space Mantra’s offer of ₹550 crore, however, is less than 3% of the total outstanding dues of ₹19,200 crore of financial creditors and is also conditional on it being able to realise value from the sale of remaining assets in the company, people aware of the development said.

Only one bidder for whole of Future Retail

Space Mantra, a company promoted by former NBCC chairman Anoop Kumar Mittal, emerged the only bidder seeking to take over the whole of Future Retail as the bids for the defunct retailer were opened on Thursday.

Space Mantra only bidder for whole of Future Retail; puts bid worth Rs 550 Cr

In April, the National Company Law Tribunal had granted an extension of 90 days for conducting the corporate insolvency

Future Retail receives six prospective resolution applicants for its assets

Debt-ridden Future Retail Ltd said on Wednesday it had received bids from six applicants in its insolvency resolution process

Future Retail receives bids from 6 applicants in bankruptcy resolution

RIL had expressed interest under Reliance Retail Ventures while Adani group had submitted EoI under April Moon Retail.

RIL, Adani Group again stay away from bidding for Future Retail under IBC

Last month, Future Retail received approval from the bankruptcy court to extend the date to complete its resolution process by another 90 days to July 15. The earlier deadline was April 16.

Reliance Retail, Adani Group withdraw from race for Future Retail, says report

An Adani Group entity, April Moon Retail, and Reliance had initially responded to invitations for expressions of interest (EoI) for the insolvent retailer. Space Mantra Pvt Ltd, Pinnacle Air Private Ltd, Palguntech LLC, Lehar Solutions, Goodwill Furniture and Sarvabhishta W Waste Management Pvt Ltd …

Scrap dealers among six companies to bid for troubled Future Retail

Hasn't faired well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Average profitability - not good, not bad

Profitability

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

The stock has a moderate number of red flags

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Future Retail Limited is a retail company that is engaged in multi-brand retail trade.