Debt-ridden Future Retail‘s Chief Financial Officer C P Toshniwal has resigned from the company, effective May 12. Toshniwal’s resignation is the recent addition to the string of resignations that started after the Rs 24,713-crore deal was called off last month by the billionaire Mukesh Ambani-led after creditors voted against it.
Last week,
‘s Managing Director Rakesh Biyani stepped down, while officials including the company secretary of the debt-ridden firm tendered resignation.
“C P Toshniwal – Chief Financial Officer of the Company has resigned with effect from the closure of business hours of May 12, 2022. Consequent to the same, he shall also cease to be a ‘Key Managerial Personnel’ (KMP) of the Company,” FRL said in a regulatory filing.
FRL, a flagship firm of the Kishore Biyani-led Future Group, now faces an insolvency petition filed by its lenders before the National…
