22 April 2022, Mumbai:
Most Banks may have voted against the FRL-Reliance deal.
A majority of domestic banks may have voted against Future Group's sale of assets to Reliance-owned firms, while overseas bondholders and some non-bank lenders have voted in favour.
The vote was held.
ALSO READ Reliance Retail takes over Future Group stores
The deal could fall through if the future fails to get a majority vote from creditors and shareholders.
Decision Making
The outcome of Wednesday's shareholders' voting is expected on Friday.
RELATED NEWS Reliance Retail takes over Future Group stores
Future Group needs the approval of at least 75% of shareholders' and creditors' votes in each of the 6 listed companies in order for the scheme to go through.
The outcome of Thursday's voting by lenders and unsecured creditors is expected to come by the weekend.
Join our community on Linkedin
CREDITS: ET Dt 22-04-2022 (The news article has not been edited by DFU Publications staff)
Author’s Posts
-
Tamil Nadu Textile Sector Begins Strong Recovery
Tamil Nadu Textile Industry Shows Signs of Recovery
After ...May 22, 2025
-
Shahid Kapoor Joins Taapsee Pannu for Vogue Eyewear India
BRAND ANNOUNCEMENT | VOGUE EYEWEAR WELCOMES SHAHID KAPOOR, WHO JOINS TAAPSEE PANNU AS ITS BRAND AMBAS...
May 22, 2025
-
3rd Morocco International Yarn & Fabric Sourcing Show 2025
3rd Morocco International Yarn & Fabric Sourcing Show 2025
May 13, 2025
-
India’s Apparel Exports: Big Potential, Low Share
Despite having the world’s second-largest vertically integrated textile industry, India’s share...May 05, 2025
CITI: India must engage U.S. on tariffs
"Bridging the Information Gap in the Textile and Fashion Industry."
Latest News
Latest Publications
