Page 11 - Future Enterprises News Today

Reliance calls off Rs 24,713-cr deal with Future after secured creditors gives a thumbs down

Reliance on Saturday called off Rs 24,713-crore deal with Kishore Biyani-led Future Group to acquire its retail, wholesale, logistics and warehousing assets as secured creditors of the latter voted against it.

The Sensex and Nifty are set to open sharply lower on Friday, following weak cues from Asian peers and bearish trends at SGX Nifty futures.

Future Retail Ltd (FRL) on Wednesday held a meeting of its shareholders to consider and approve the sale of the company's retail assets to billionaire Mukesh Ambani's Reliance Retail Ventures Ltd.

Future Retail Ltd (FRL) on Wednesday held a meeting of its shareholders to consider and approve the sale of the company's retail assets to billionaire Mukesh Ambani's Reliance Retail Ventures Ltd.

The meeting was chaired by Shailesh Haribhakti, FRL said in a regulatory filing. Haribhakti has been appointed by the NCLT to chair the meeting, , future retail, NCLT, reliance retail

Debt-ridden Future Enterprises Ltd has defaulted on the payment of interest of Rs 1.22 crore due on non-convertible debentures

FEL has defaulted interest for the period between October 11, 2021, to April 10, 2022, a regulatory filing from the Future group firm said, , Future Enterprises

Future Enterprises Ltd (FEL), which is debt-ridden, said on Monday that two independent directors -- Anand Chandrasekaran and Malini Chopra -- have resigned from the company's board.

The development comes days after FEL defaulted on a payment of Rs 2,835.65 crore to various banks and lenders.