NCLT can issue directions over shareholders meet on RIL deal, says Future Retail
Earlier in the day, the apex court had allowed the NCLT, Mumbai to continue with the proceedings but asked not to pass a final order on the amalgamation of Future Retail Ltd (FRL) with Reliance Retail
PTI | February 23, 2021 | Updated 11:21 IST
Future Retail Chairperson Kishore Biyani
Future Retail Ltd on Monday said the National Company Law Tribunal (NCLT) can issue directions to convene meetings of shareholders and creditors of applicant companies, including it, to consider the Rs 24,713-crore deal with Reliance Retail following an order by the Supreme Court.
Read more about Amid RIL deal woes, Future s creditors scramble over $2.5-bn loans: Report on Business Standard. Future may face liquidation if the deal falls through and banks are actively discussing an alternate one-time restructuring option, say four bankers with knowledge of the matter