Future Group's Biyani brothers face lenders' Rs.800 crore recovery push
New Delhi, Oct. 30 -- The Delhi High Court has sought details of assets held by Future Group promoters Kishore Biyani and his brother Rakesh Biyani as lenders move to recover nearly Rs.800 crore in dues linked to personal guarantees given for loans to group companies.
A bench of Justice Vinod Kumar on Friday issued notices to the brothers and directed them to file affidavits disclosing their assets, including bank accounts and shareholdings, within a week. The court will hear the matter next on 19 November.
The petitions have been filed by Catalyst Trusteeship Ltd and Phoenix ARC Ltd under Section 9 of the Arbitration and Conciliation Act, 1996. The lenders have sought directions requiring the promoters to disclose their assets and fina...
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