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Vote on Space Mantra's Future Retail bid likely soon, Retail News, ET Retail

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. ....

Anoop Kumar Mittal , Kishore Biyani , Vijaykumar Iyer , Central Bank , Union Bank , Future Retail , Space Mantra , New York Mellon , Reliance Retail , Then Reliance , Future Retail , Reliance Retail , Space Mantra , Union Bank Of India , Rp Vijaykumar Iyer , Bank Of Baroda , Central Bank Of India ,

space mantra: Vote on Space Mantra's Future Retail bid likely soon

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. ....

Anoop Kumar Mittal , Vijaykumar Iyer , Kishore Biyani , Central Bank , Union Bank , Future Retail , Space Mantra , New York Mellon , Reliance Retail , Then Reliance , Union Bank Of India , Rp Vijaykumar Iyer , Bank Of Baroda , Central Bank Of India ,