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Most Future Enterprises lenders back Avil Menezes as resolution professional
The National Company Law Tribunal (NCLT) had appointed Jitender Kothari as the interim resolution professional (IRP) in February when FEL was admitted for corporate insolvency on a petition by Foresight Innovations, an operational creditor.A majority of Future Enterprises (FEL) lenders voted to appoint Avil Menezes as the resolution professional (RP) for the bankrupt company, said people aware of the development.
The National Company Law Tribunal (NCLT) had appointed Jitender Kothari as the interim resolution professional (IRP) in February when FEL was admitted for corporate insolvency on a petition by Foresight Innovations, an operational creditor.
Last month, 67% of the lenders voted on a resolution to appoint Menezes, while 20% abstained from voting and 13% voted to retain Kothari as the RP, the people said.
Following the voting, on June 14, lenders filed a petition with the NCLT to appoint Menezes. The NCLT, on June 22, reserved the order on the matter.
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