Amazon India looks to block sale of Future Group's small-format stores
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22 January 2022, Mumbai:
Amazon Offers Financial Help In Letter To Cash-Strapped Retailer.
Sale Without Consent: Would Be Violation
Future Group owes 14,000-15,000 crores to lenders as part of the one-time restructuring scheme signed between the retailer and the banks.
But the group failed to honour the payment of the first tranche of Rs 3000 crores that were due at the end of the year.
Lenders are looking to sell Future Detail's small-format stares-Everyday and Heritage Fresh-to recover the dues.
Credits: TOI dt 21-01-2022
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