Future’s Kishore Biyani resigns as exec chairman

In an exchange filing, the company said that the resignation letter of Biyani will be placed before the committee of creditors (CoC), as per the Insolvency and Bankruptcy Code, 2016.

“Nothing herein should be construed as an acceptance of the contents of the resignation letter tendered by Kishore Biyani, including in respect of his submissions in the resignation letter on information handover,” the company said.

Future Group has been fighting a legal battle with Amazon for more than a year.

In his resignation letter, dated January 23, 2023, to the insolvency resolution professional Vijaykumar Iyer, Biyani wrote that as the chairman of the company, he has been holding on to the position even after the initiation of CIRP and suspension of the board including chairman and all rights of the board and the chairman being suspended.

Biyani wrote that he has completed all the required handholding within his capacity for the resolution professional to take over the entire control of the company. He has even handed over all the information and data available to the RP.