RIL-FRL deal: NCLT reserves order on Reliance Retail's plea seeking shareholders consent

RIL-FRL deal: NCLT reserves order on  Reliance Retail's plea seeking shareholders consent

21st July 2021,Mumbai:

On 21st July, the National Company Law Tribunal (NCLT) reserves its order in the plea filed by (RIL) Retail Retail seeking to conduct shareholders and creditors meetings to get nod and approval for the proposed merger with FRL.

(NCLT) bench asked if the lenders to FRL were on board with the whole scheme

Drive envisages a merger of Kishore Biyani owned FRL into(RIL) Reliance Retail Ventures Ltd (RRVL) & Reliance Retail Fashion Lifestyle Limited (RRFLL).

The deal is a business consideration in a Rs 24,713 crore deal.

 

Watch: https://www.youtube.com/watch?v=BVMVGbPYXXU

 

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What RIL gets is

Reliance Retail gets over-night access to In excess of 1,800 stores across Future Group's format.

 

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