<p>Debt-ridden Future Enterprises Ltd is now facing a second plea filed by an operational creditor of the company before National Company Law Tribunal to initiate insolvency proceedings.</p>.<p>The latest petition is filed against Future Enterprises by Retail Detailz India, claiming default of Rs 4.02 crore before the Mumbai bench of the National Company Law Tribunal (NCLT).</p>.<p>"The Company has received e-filing confirmation from NCLT with respect to the filing of an application by an Operational Creditor Retail Detailz India Private under section 9 of the IBC for an alleged default amount of Rs 4.02 crore," Future Enterprises said in a late evening filing on Tuesday.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/business-news/rupert-murdochs-son-sues-australian-website-for-defamation-1138865.html" target="_blank">Rupert Murdoch's son sues Australian website for defamation</a></strong></p>.<p>No further date has been allotted so far for hearing the said application, it added.</p>.<p>Last week, another operational creditor, Foresight Innovations, had filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) 2016, for an alleged default amount of Rs 1.58 crore before the Mumbai bench of NCLT.</p>.<p>The next date of hearing of this petition is August 26, 2022.</p>.<p>Section 9 of the IBC gives power to operational creditors of a company to initiate a corporate insolvency resolution process in case of a default.</p>.<p>Operational creditors are those whose debt is owed on account of dues arising out of business transactions. This mostly includes claims for the delivery of goods or services and employment.</p>.<p>Future Enterprises, part of the Kishore Biyani-led Future Group, is facing difficulties like other firms of the group.</p>.<p>On Tuesday, its Non-Executive Director Chandrapraksh Toshniwal resigned from the board of directors.</p>.<p>Future Enterprises was part of the 19 group companies operating in retail, wholesale, logistics and warehousing segments which were supposed to be transferred to Reliance Retail as part of a Rs 24,713-crore deal announced in August 2020.</p>.<p>The deal was called off by the billionaire Mukesh Ambani-led Reliance Industries Ltd in April.</p>.<p>It had recently committed several defaults on payment of interest on its several non-convertible debentures.</p>.<p>NCLT has already initiated insolvency proceedings against Future Group's flagship firm Future Retail Ltd.</p>
<p>Debt-ridden Future Enterprises Ltd is now facing a second plea filed by an operational creditor of the company before National Company Law Tribunal to initiate insolvency proceedings.</p>.<p>The latest petition is filed against Future Enterprises by Retail Detailz India, claiming default of Rs 4.02 crore before the Mumbai bench of the National Company Law Tribunal (NCLT).</p>.<p>"The Company has received e-filing confirmation from NCLT with respect to the filing of an application by an Operational Creditor Retail Detailz India Private under section 9 of the IBC for an alleged default amount of Rs 4.02 crore," Future Enterprises said in a late evening filing on Tuesday.</p>.<p><strong>Also Read — <a href="https://www.deccanherald.com/business/business-news/rupert-murdochs-son-sues-australian-website-for-defamation-1138865.html" target="_blank">Rupert Murdoch's son sues Australian website for defamation</a></strong></p>.<p>No further date has been allotted so far for hearing the said application, it added.</p>.<p>Last week, another operational creditor, Foresight Innovations, had filed an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) 2016, for an alleged default amount of Rs 1.58 crore before the Mumbai bench of NCLT.</p>.<p>The next date of hearing of this petition is August 26, 2022.</p>.<p>Section 9 of the IBC gives power to operational creditors of a company to initiate a corporate insolvency resolution process in case of a default.</p>.<p>Operational creditors are those whose debt is owed on account of dues arising out of business transactions. This mostly includes claims for the delivery of goods or services and employment.</p>.<p>Future Enterprises, part of the Kishore Biyani-led Future Group, is facing difficulties like other firms of the group.</p>.<p>On Tuesday, its Non-Executive Director Chandrapraksh Toshniwal resigned from the board of directors.</p>.<p>Future Enterprises was part of the 19 group companies operating in retail, wholesale, logistics and warehousing segments which were supposed to be transferred to Reliance Retail as part of a Rs 24,713-crore deal announced in August 2020.</p>.<p>The deal was called off by the billionaire Mukesh Ambani-led Reliance Industries Ltd in April.</p>.<p>It had recently committed several defaults on payment of interest on its several non-convertible debentures.</p>.<p>NCLT has already initiated insolvency proceedings against Future Group's flagship firm Future Retail Ltd.</p>