Bank of India moves NCLT against Future Retail

Bank of India has moved the National Company Law Tribunal (NCLT), filing a petition to initiateinsolvency proceedings against debt-ridden Future Retail Ltd. “Bank of India (BoI) has served an advance intimation of filing an application under Section 7 of theInsolvency and Bankruptcy Code, 2016 against the company for default on non-payment of moniesdue in terms of the Framework Agreement entered