Bank of India files for insolvency proceedings against Future Retail

Bank of India on Thursday filed a petition with the National Company Law Tribunal to initiate insolvency proceedings against Future Retail for non-payment of dues. This comes amid an ongoing legal battle between Future Retail and Amazon over the former's ₹24,713 crore deal with Reliance Industries. "Amazon wanted to destroy us...they've destroyed us," Future Retail had said earlier.