Lenders to Future Retail (FRL) are considering a takeover plan by Space Mantra, despite concerns about the low offer. The committee of creditors (CoC) has extended the voting deadline to September 7 to allow lenders more time for internal approvals. Some lenders prefer liquidation over selling the company cheaply. Space Mantra s offer of ₹553 crore is 2.79% of the outstanding dues. The company has promised to start repaying lenders 90 days after receiving approval from the National Company Law Tribunal (NCLT). Future Retail owes a total of ₹19,773 crore to financial creditors.
Lenders to Future Retail (FRL) are considering a takeover plan by Space Mantra, despite concerns about the low offer. The committee of creditors (CoC) has extended the voting deadline to September 7 to allow lenders more time for internal approvals. Some lenders prefer liquidation over selling the company cheaply. Space Mantra s offer of ₹553 crore is 2.79% of the outstanding dues. The company has promised to start repaying lenders 90 days after receiving approval from the National Company Law Tribunal (NCLT). Future Retail owes a total of ₹19,773 crore to financial creditors.