RIL-FRL deal: NCLT reserves order on Reliance Retail's plea seeking shareholders consent
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21st July 2021,Mumbai:
On 21st July, the National Company Law Tribunal (NCLT) reserves its order in the plea filed by (RIL) Retail Retail seeking to conduct shareholders and creditors meetings to get nod and approval for the proposed merger with FRL.
(NCLT) bench asked if the lenders to FRL were on board with the whole scheme
Drive envisages a merger of Kishore Biyani owned FRL into(RIL) Reliance Retail Ventures Ltd (RRVL) & Reliance Retail Fashion Lifestyle Limited (RRFLL).
The deal is a business consideration in a Rs 24,713 crore deal.
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