FRL lenders keenly await RIL's 'Debt Distribution Plan'

18 April 2022, Mumbai:

If Reliance proposes to take over a large chunk of Biyani co's dues, lenders may be keen to vote in scheme's favour.

In a huddle: Shareholders & Creditors.

ALSO READ Reliance Retail takes over Future Group stores

But RIL hasn't yet spelled out the quantum of Future debt it will take over.

Lenders want RIL to absorb a large portion of this debt.

Estimated dues of Future Group are at over Rs 25k crores.

RELATED NEWS RIL to buy Future Group’s retail assets at original price

Voting on the scheme is scheduled this week, but creditors of Future Retail Ltd have not received a plan yet spelling out the distribution of the proceeds from the proposed slump sale of the group's assets to Reliance-linked entities, said three people aware of the matter.

Expect timely payment of their dues since Reliance has an 'AAA' rating.

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CREDITS: ET Dt 18-04-2022 (The news article has not been edited by DFU Publications staff)