Mukesh Ambani-owned Reliance Retail Ventures Limited, Naveen Jindal promoted Jindal (India) Limited and GBTL Limited submitted expressions of interest for acquiring Future Enterprises Limited (NSEI:FEL) under the corporate insolvency process, disclosures made by the debt-laden company to the stock exchange showed. The National Company Law Tribunal (NCLT) admitted Kishore Biyani's Future Enterprises for corporate insolvency on February 27 after a deal to sell the assets of Future Group in a slump sale to Reliance Industries collapsed. Reliance Retail Venture, a subsidiary of India's most-valued conglomerate Reliance Industries, had proposed acquiring Future Group assets.

According to the agreement, 19 Future Group companies including Future Retail Future Lifestyle Fashions Future Consumer and Future Supply Chain would merge into FEL. Subsequently, by way of a slump sale, FEL would sell the retail and wholesale businesses including Big Bazaar, fbb, Foodhall, Easyday, Nilgiris, Central and Brand Factory to Reliance Retail & Fashion Lifestyle, and the logistics and warehouse business to Reliance Retail Ventures Ltd. The administrator, who has invited resolution plans from the EoI applicants by August 24, has admitted INR 122.65 billion of verified claims from lenders and INR 0.23 billion of claims from fixed deposit holders.