Future Retail directed to file reply on insolvency plea by May 12

National Company Law Tribunal (NCLT) has given Future Retail time till May 12 to file its reply to the insolvency plea filed by Bank of India. Future has defaulted on payment of ₹5,322.32 crore to a Bank of India-led consortium of lenders. This comes after Reliance called off its ₹24,713-crore deal with Future on Saturday.