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Stock crash: Shares of most of the companies of Future group have crashed badly. Out of this, one share is also of Future Enterprises. This company is also going through the bankruptcy process. The shares of this company have crashed by almost 100 percent. In fact, in the month of January 2008, the share price of the company was at the level of Rs 66, which has now come down to 0.79 paise. The stock registered a decline of 4.82% on Friday. This is also a 52-week low level. A year ago, on the same day, the share price was Rs 8.85, a 52-week high.
Company involved in insolvency process
Let us tell you that recently Kishore Biyani’s company Future Enterprises has been included in the insolvency resolution process. After this, the process of auctioning the firm will go ahead to recover the dues of the lenders. On March 7, the Mumbai bench of the National Company Law Tribunal ordered the initiation of the Corporate Insolvency Resolution Process (CIRP). NCLT has appointed a resolution professional to manage the affairs of the company. With the commencement of CIRP, the management of the company is now with the resolution professional and the powers of the Board of Directors are suspended.
Another IPO coming on March 20, price band from ₹ 33 to 35, there will be profit on betting!
99% loss of investors
Let us tell you that since 2008 till now investors have lost 98%. During this period, if someone had invested Rs 1 lakh in this stock and had maintained his investment till now, then this amount would have remained only Rs 1200.