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.
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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.
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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.
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CREDITS: ET Dt 22-04-2022 (The news article has not been edited by DFU Publications staff)
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