Future Retail Executive Chairman Kishore Biyani withdraws his resignation

Mumbai: Future Retail's executive chairman Kishore Biyani has withdrawn his resignation, which is facing bankruptcy process. The company said in a regulatory filing on Wednesday that this step has been taken at the behest of the resolution professional. Biyani resigned on January 23 this year. His resignation was sent to the Committee of Creditors of the banks that had given loans to the company. However, in the information sent to the stock exchanges, Future Retail has said, 'The resolution professional of the company had objected to the resignation of Biyani on 1 February. He was requested to withdraw his resignation. Bank of India had initiated bankruptcy proceedings against Future Retail after the loan default. Its lenders had rejected Rs 24,713 crore deal to acquire 19 companies of Future Group.

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