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NCLAT sets aside Future Consumer's plea for insolvency against Aussee Oats
New Delhi's NCLAT rejected Future Consumer Limited's insolvency appeal against Aussee Oats Limited. The tribunal upheld the Mumbai NCLT's earlier decision. Future Consumer claimed over one crore rupees from Aussee Oats. However, NCLT observed a set-off in financial statements, showing no debt payable. A dispute between the parties was also noted.
cityfalcon.com·6mo ago
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Resurgent India files insolvency plea vs Future grp
Future Consumer Ltd, part of the debt-ridden Future Group, is facing an insolvency plea filed by Resurgent India Special Situations Fund before the NCLT, claiming defaults. The company, already grappling with a significant liquidity crunch and defaults on loan repayments totaling Rs 558.73 crore, acknowledged the filing and stated it would make appropriate representations.
cityfalcon.com·7mo ago
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