At meeting held on 17 April 2021The Board of Future Retail at its meeting held on 17 April 2021 has approved a resolution plan to restructure the existing secured financial debt from the banker of the company as permitted under a Resolution Framework for COVID 19 related Stress announced by the Reserve Bank of India. The said resolution plan, which remains subject to the approval of the Expert Committee (under the chairmanship of the K. V. Kamath) constituted by the Reserve Bank of India, has been approved by the lenders to the Existing Debt of the Company.
As part of the resolution plan, the debt raised through the non-convertible debentures issued by the Company under Series IA, IB and II (NCDs) are also part of the Existing Debt and are proposed to be restructured.
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The board of Future Retail along and its lenders have approved a resolution plan to restructure the existing secured financial debt from the banks under the resolution framework for Covid-19 related stress.In a regulatory filing, the company .