Gautam Adani and Mukesh Ambani are at it again, this time to acquire the stressed assets of Future Retail Ltd.

The Adani group and Reliance Industries Ltd (RIL) are among the 15 entities that have submitted expressions of interest (EoIs) for Future Retail.

Adani has moved through April Moon Retail, a joint venture between Adani Airport Holdings and Flemingo group, while Ambani’s Reliance Retail Ventures has submitted the EoI.

The others who have entered the fray include Shalimar Corporation, Nalwa Steel and Power (an OP Jindal Group company), United Biotech, WHSmith Travel, Capri Global Holdings, DS group, Dickey Alternative Investment, SNVK Hospitality and Management (a consortium of B-Right Real Estate and Ayekart Fintech), Bommidala Enterprises, Gordon and Payard, UV Multiple Asset Investment Trust and a consortium led by Bhumireddy Gari Mohan Reddy.

The deadline to submit the EoI was extended from 20 October to 3 November due to lack of interest. 

The final list of entities who have submitted the EOIs will be issued on 20 November. They will then have to submit a resolution plan by 15 December.

Future Retail, the flagship retail unit of Future Group, was dragged into bankruptcy proceedings by banks after it defaulted on loans and its lenders rejected a $3.4 billion sale of its assets to RIL. Earlier, Amazon had moved the court against Future Retail’s move to sell to RIL and accused it of violating certain contracts.

In August, a total of 33 lenders had submitted loan claims of Rs 21,057 crore under the ongoing insolvency process. The lead lenders include Bank of India and State Bank of India.