Reliance Retail eyes at Future assets under IBC

Reliance Retail eyes at Future assets under IBC

25 April 2022, Mumbai:

With the Reliance-Future deal off, Reliance Retail is open to participating in the bidding process for Future Group's assets under the insolvency resolution process.

Reliance Plans to Bid for Future Assets Under IBC.

ALSO READ FRL lenders to pursue group insolvency

May lower bid amount to adjust for receivables, delay in the process.

Still in the fray:
Reliance-Future deal pegged at Rs 24,713 crore.
Reliance wants to adjust Rs 6k-cr outstanding from Future.
Reliance could adjust the bid amount for receivables.
Reliance to factor in likely érosion of the value of Future Group's intangible assets.

RELEVANT NEWS Future of Future Group?

Reliance might not support any line of credit to Future Group.

Secured creditors, unsecured creditors, and shareholders of Future Group had last week voted in a process mandated by the NCLT to seek approval for the deal that has been hanging fire for 20 months amid opposition from Amazon.

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CREDITS: *ET Dt 25-04-2022 (The news article has not been edited by DFU Publications).

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