Independent directors of Kishore Biyani-led Future Retail Ltd have accepted the transaction with billionaire Mukesh Ambani-led Reliance Retail Ventures Ltd, a unit of Reliance Industries Ltd (RIL).
Shares of India's Future Group companies surged as much as 20 per cent on Monday after the fair trade regulator Competition Commission of India (CCI) has suspended Amazon's 2019 deal with the group. The antitrust agency has also imposed a Rs 202 crore penalty on the e-commerce major for certain contraventions.