Page 39 - Future Group News Today

Reliance Industries Limited (RIL) has called off the deal with Future Retail Ltd (FRL) after FRLs secured creditors voted against the scheme.In a filing with the stock exchanges, RIL said, "The Future Group companies comprising Future ...

Future Retail On Course To Insolvency As Secured Creditors Reject Reliance Deal Future Retail Ltd is heading for bankruptcy after secured creditors re

Haribhakti had chaired meetings of shareholders and creditors of Future Group entities that were called to vote on the Rs 24,713 crore deal with Reliance Retail.

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

MUMBAI (Reuters) - Reliance Industries said on Saturday its deal with Future Group "cannot be implemented" after secured creditors in the latter rejec...

The Rs 24,713-crore deal Future group deal cannot be implemented as their secured creditors have voted against it, said Reliance Industries in a regulatory filing on Saturday.

Indias top retailer Reliance has called off its Rs24,713-crore ($3.4 billion) deal with Future Group, after the latters secured creditors voted against it. In August 2020, Future had announced plans to sell 19 companies to Reliance Retail Ventures.

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.

Indias top retailer Reliance has called off its Rs24,713-crore ($3.4 billion) deal with Future Group, after the latters secured creditors voted against it. In August 2020, Future had announced plans to sell 19 companies to Reliance Retail Ventures.

Future Retail Ltd is on course to bankruptcy after its secured creditors rejected the Reliance deal this week. The fate of the company and management is uncertain as the Bank of India initiated insolvency proceedings last week.