(File image: Future Group Chairman Kishore Biyani)
The National Company Law Tribunal (NCLT) on September 28 granted the Future Group permission to meet with its shareholders and creditors for the purpose of seeking approval for the sale of its assets to Reliance Retail Ltd.
In an order issued on September 28, the NCLT had asked the Future Group to propose a suitable date to hold the extraordinary general meeting (EGM) of the shareholders and creditors.
Both the Future Group and Reliance had announced in August 2021 that Reliance Retail Ventures Limited (RRVL) will acquire the wholesale, retail, logistics, and warehousing businesses from Kishore Biyani’s Future Group for Rs 24,713 crore.
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