Move follows NCLT nod to Future Group firms to seek approval of scheme that allows Future Group to sell its retail, logistics and warehousing businesses to RIL
BS Reporter |
Last Updated at March 7, 2022 23:22 IST
Future Enterprises Ltd will hold meetings with its shareholders and creditors in April after the National Company Law Tribunal (NCLT) passed an order allowing Future Group companies to convene and conduct meetings of its shareholders and creditors to seek their approval for the scheme which allows Future Group to sell its retail, logistics and warehousing businesses to Reliance Industries for almost Rs 25,000 crore, a deal it signed in 2020.
In a stock exchange filing, Future Enterprises said that it will hold a meeting of members of the company on April 20 and a meeting with its secured and unsecured creditors of the company will take place on April 21.
On February 15, Supreme Court granted Future Retail the option to seek from the Delhi High Court permission to continue proceedings at the NCLT on its deal with Reliance Industries.
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First Published: Mon, March 07 2022. 23:12 IST