The committee of creditors (CoC) to Future Retail Limited (NSEI:FRETAIL) have extended the voting period for the third time to decide the winning bidder to acquire the debt-laden company. The timeline has now been extended till September 30 as lenders are still undecided whether to approve a very low offer from SpaceMantra or allow liquidation of FRL as there isn't enough time to seek fresh bids. The decision was taken on 16 September 2023 after the second timeline ended on September 15, three people familiar with the developments said.

The majority of the creditors have yet to decide on the takeover plan under consideration. "Nobody is in a hurry to make a decision. Everyone is waiting for the other.

Though some small bondholders have voted, the large financial creditors are still weighing options," said one of the persons cited above.