The National Company Law Tribunal (NCLT), Mumbai Bench, has approved Reliance Retail Ventures Limited (RRVL) as the successful bidder for Future Supply Chain Solutions Limited (FSCSL), with a resolution plan amounting to approximately Rs 171.39 crore. This order brings to a close a corporate insolvency resolution process (CIRP) that lasted over two and a half years.
The insolvency of Future Supply Chain Solutions was initiated on January 5, 2023, following an application filed by operational creditor DHL Ecommerce (India) Private Limited. Rajan Rawat was appointed as the Interim Resolution Professional, who later continued as the Resolution Professional (RP).
FSCSL was admitted into CIRP with admitted financial claims…