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The approval comes just three weeks after the tribunal allowed the Future group to seek approval of its shareholders and creditors on the merger with Reliance Retail
On October 11, Sensex rose 77 points to end at a record closing high of 60,136 on Monday, tracking gains in index heavyweights HDFC Bank, ICICI Bank, and ITC. Nifty rose 50.75 points or 0.28 per cent to its all-time closing high of 17,945.95.
The future of retail: Here's everything you need to know about the legal battle between Amazon vs Future Retail and Reliance.
Future group firms are convening meetings of their respective shareholders and creditors in November to seek approval to their proposed merger into Future Enterprises as part of the 24,713-crore deal with Reliance Retail. Several listed transferor firms including Future Retail, Future Consumer, Future Enterprises, Future Lifestyle Fashions, Future Markets Networks and Future
The scheme of arrangement between Future and Reliance Retail, announced in August last year entails consolidation of Future Group's 19 companies operating in retail, wholesale, logistics and warehousing assets into one entity -- Future Enterprises Ltd.