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.
Embassy Office Parks REIT declared distribution of Rs 509.96 crore or Rs 5.38 per unit for the quarter under review. The distribution comprises Rs 65.40 crore in the form of interest, Rs 225.59 crore in the form of dividend and Rs 218.01 crore in the form of repayment of SPV (special purposed vehicle) level debt.
Embassy Office Parks REIT s net operating income grew by 9% year-on-year to Rs 738 crore. The board approved the raising of debt up to an aggregate amount of Rs 16,000 million.
Embassy Office Parks REIT Q1 net operating income at Rs 738 cr financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.