Page 36 - Future Group News Today

Into the atlantic off florida later on monday. the crew had spent more than two weeks on the space station, carrying out experiments. indias top retailer reliance says it has called off its $3.a billion deal with future group. reliance said it could not go through with it after some of futures creditors voted against it. the sale was at the centre of legal battles since 2020 after futures partner amazon.com legally blocked it. once indias second—largest retailer, future is now facing the prosp...

The announcement came from the Mukesh Ambani-led Reliance on Saturday after a majority of secured creditors of FRL voted against the deal.

The state-owned Bank of India, the leading lender to FRL, has already approached the National Company Law Tribunal (NCLT) for a resolution under the Insolvency and Bankruptcy Code (IBC).

Shares of Future Supply Chain Solutions, Future Retail, Future Lifestyle Fashions, Future Consumer and Future Enterprises fell between 5 per cent and 20 per cent., , future group

Future Group shares tumble up to 20% post-announcement of acquisition by Reliance Industries

Indian shares fell sharply on Monday as prospects of aggressive rate hikes by the US Federal Reserve hit investors' appetite for risky assets.

Future Retail, Future Enterprises, Future Lifestyle, Future Consumer and Future Supply shares hit their respective lower circuits in intra-day trade. 

Nifty 50 index was down 1.05 per cent or 180.50 points at 16,991.45, while the S&P BSE Sensex fell 1.07 per cent or 614.50 points to 56,582.65.

After many twists and turns, including prolonged legal battles up to the Supreme Court and international arbitration proceedings, Reliance Industries Ltd (RIL) has called off the deal with Future Retail Ltd (FRL) after FRL’s secured creditors voted against the scheme.

However, Future Group's flagship firm Future Retail Ltd (FRL), which has nearly Rs 18,000 crore debt, is bound to face the corporate insolvency resolution process before NCLT.