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IN THE NATIONAL COMPANY LAW TRIBUNAL

COURT NO. V, MUMBAI BENCH

IA NO. 8 OF 2022

IN

CA(CAA)-8 (MB)/2021

In the matter of:

Catalyst Trusteeship Limited

Windsor, 6^th Floor, Office No. 604, CST Road,

Kalina, Santacruz (East), Mumbai- 400098.

… Applicant

In the matter between:

Future Consumer Limited

… First Applicant Company/

the Transferor Company 1

Future Lifestyle Fashions Limited

… Second Applicant Company/

the Transferor Company 2

Future Market Networks Limited

… Third Applicant Company/

the Transferor Company 3

Future Retail Limited

… Fourth Applicant Company/

the Transferor Company 4

Future Supply Chain Solutions Limited

… Fifth Applicant Company/

the Transferor Company 5

Future Bazaar India Limited

… Sixth Applicant Company/

the Transferor Company 6

Acute Retail Infra Private Limited

… Seventh Applicant Company/

IA NO. 8 OF 2022

IN

CA(CAA)-8 (MB)/2021

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the Transferor Company 7

Basuti Sales and Trading Private Limited

… Eighth Applicant Company/

the Transferor Company 8

Brattle Foods Private Limited

… Ninth Applicant Company/

the Transferor Company 9

Chirag Operating Lease Co. Private Limited

… Tenth Applicant Company/

the Transferor Company 10

Hare Krishna Operating

… Eleventh Applicant Company/

the Transferor Company 11

Nice Textcot Trading & Agency Private Limited

… Twelfth Applicant Company/

the Transferor Company 12

Nishta Mall Management Company Limited

… Thirteenth Applicant Company/

the Transferor Company 13

Ojas Trade Lease and Mall Management Private

Limited

… Fourteenth Applicant Company/

the Transferor Company 14

Precision Realty Developers Private Limited

… Fifteenth Applicant Company/

the Transferor Company 15

Rivaaz Trade Ventures Private Limited

… Sixteenth Applicant Company/

the Transferor Company 16

Rivaaz Trade Ventures Private Limited

… Sixteenth Applicant Company/

the Transferor Company 16

IA NO. 8 OF 2022

IN

CA(CAA)-8 (MB)/2021

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Syntex Trading & Agency Private Limited

… Seventeenth Applicant Company/

the Transferor Company 17

Taquito Lease Operators Private Limited

… Eighteenth Applicant Company/

the Transferor Company 18

Unique Malls Private Limited

… Nineteenth Applicant Company/

the Transferor Company 19

Future Enterprises Limited

… Twentieth Applicant Company/

the Transferee Company

And

In the matter of Future Enterprises Limited (“FEL”)

and Reliance Retail Ventures Limited (“RRVL”) and

their respective shareholders and Creditors.

And

In the matter of Future Enterprises Limited (“FEL”)

and Reliance Retail and Fashion Lifestyle Limited

(“RRVL WOS”) and their respective shareholders

and Creditors.

Order Reserved on: 04.03.2022

Order Pronounced on: 20.04.2022

Coram:

Hon’ble Smt. Suchitra Kanuparthi, Member (Judicial)

Hon’ble Smt. Anuradha Sanjay Bhatia, Member (Technical)

(Appearances Via Video Conferencing):

For the Applicant

: Mr. V.R Dhond, Learned Senior Counsel

For the Intervenor/ Objector : Mr. Gaurav Joshi, Learned Senior Counsel

Per: Suchitra Kanuparthi, Member (Judicial)

IA NO. 8 OF 2022

IN

CA(CAA)-8 (MB)/2021

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ORDER

IA NO. 8 OF 2022 IN CA(CAA)-8 (MB)/2021

1. The Applicant is aggrieved by Future Lifestyle Fashions Limited (FLFL)

deliberate failure to reflect the applicant as a creditor of FLFL. The scheme

entities intend to avoid giving the statutory notice of the meeting convened

by the Court, to deprive the Applicant of its right to vote on the scheme.

Brief Facts:

2. The Applicant is a company incorporated in the year 1997 and is a

trusteeship company inter alia engaged in the business of providing a wide

spectrum of trusteeship service. Further, the Applicant is the Bond

Trustee of DB International (Asia) Limited, a Company that has

subscribed to 3500 redeemable, rated, listed, principal protected, secured,

non-convertible bonds (“bonds”) having face value of Rs. 10,00,000/-

(Rup