Even if Amazon wins legal battle 'Future Group' is here to stay

 10 November 2021, Mumbai:

Kishore Biyani's debt-laden Future Group can survive on its own with the help of banks and lenders, albeit at a reduced scale if Amazon wins the legal battle against the Big Bazaar parent, an independent director on the board of Future Retail (FRL) said on Tuesday.

FRL is locked in a legal battle with US retailer Amazon over its Rs 24,700-crore asset sale to Mukesh Ambani's Reliance Retail The comment comes against the backdrop of the National Company Law Tribunal stalling FRL's shareholders' meeting on Amazon's objection.

An outcome in the dispute that has held up the FRL's deal with Reliance for several months may take a while as the entities battle it out in courts "If this gets embroiled in courts and carry on till this time next year, it will be bad for the company because it needs positive cash flow Ravindra Dharwa an independent director on FRL board, told TOI

(The news article has not been edited by DFU Publications staff)

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