India's Future Retail executive chairman withdraws resignation letter

Future Retail Ltd announced on Wednesday that Kishore Biyani, the company's executive chairman and director, has retracted his resignation despite the firm's financial struggles.

The company, currently under insolvency proceedings, said "the resolution professional objected to the contents of (Biyani's resignation) letter" and requested him to recall the letter.

Biyani had tendered his resignation on Jan. 23, the company said.