Future Retail's executive chairman withdraws resignation letter

Debt-ridden Future Retail Ltd said on Wednesday Kishore Biyani has withdrawn his resignation as the executive chairman and director of the company.

The company, currently under insolvency proceedings, said "the resolution professional objected to the contents of (Biyani's resignation) letter" and requested him to recall the letter.

Biyani had tendered his resignation on January 23, the company said.

In his resignation letter, Biyani stated that he has completed all necessary steps to hand over control of both the business and its assets to the resolution professional. This includes all information and data about the business, insights into its operations, and hurdles faced by previous management.