<p>Debt-ridden Future Retail Ltd said on Wednesday it had received bids from six applicants in its insolvency resolution process.</p>.<p>The company did not disclose the name of the bidders.</p>.<p>Future Retail, once India's second-largest retailer, was dragged into bankruptcy proceedings by banks after it defaulted on loans and its lenders rejected a $3.4 billion buyout by Reliance Retail amid a legal challenge by Amazon.com Inc .</p>.<p>Earlier in the day, <em>ET </em>reported that Reliance Retail - the retail arm of Mukesh Ambani's Reliance Industries - and Gautam Adani-led Adani Group had opted out of the final bid.</p>.<p>A total of 49 bidders were eyeing to acquire the debt-laden giant in April this year.</p>
<p>Debt-ridden Future Retail Ltd said on Wednesday it had received bids from six applicants in its insolvency resolution process.</p>.<p>The company did not disclose the name of the bidders.</p>.<p>Future Retail, once India's second-largest retailer, was dragged into bankruptcy proceedings by banks after it defaulted on loans and its lenders rejected a $3.4 billion buyout by Reliance Retail amid a legal challenge by Amazon.com Inc .</p>.<p>Earlier in the day, <em>ET </em>reported that Reliance Retail - the retail arm of Mukesh Ambani's Reliance Industries - and Gautam Adani-led Adani Group had opted out of the final bid.</p>.<p>A total of 49 bidders were eyeing to acquire the debt-laden giant in April this year.</p>