Intimation for transfer of shares
FELDVR · price
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Awaiting price reaction for this filing.
Future Enterprises Limited, currently under the Corporate Insolvency Resolution Process (CIRP), has transferred its equity stake in two insurance joint ventures to Central Bank of India on 04 June 2025. The transfer includes 35,06,30,136 shares of Future Generali India Insurance Company Limited and 65,43,80,439 shares of Future Generali India Life Insurance Company Limited. The sale was carried out under Regulation 29 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The filing was signed by Avil Menezes, the Resolution Professional for the company. This effectively divests the company's insurance JV holdings as part of the insolvency resolution.
For shareholders, this marks a major asset divestment happening under the insolvency process, which will directly shape the recovery for creditors and equity holders. The transfer to Central Bank of India indicates implementation of the approved resolution plan, likely reducing any residual value available to DVR shareholders.