Reliance calls off ₹24,731 crore deal with Future Retail
Reliance calls off ₹24,731 crore deal with Future Retail On August 29, 2020, Reliance had intimated to the stock exchanges about a scheme of arrangement for the transfer of retail and wholesale business and the logistics and warehousing business of Future Group to Reliance Retail Ventures Ltd, its subsidiary, and Reliance Retail and Fashion Lifestyle Ltd, a wholly-owned subsidiary of RRVL. | Photo Credit: PAUL NORONHA The secured creditors of Future Retail Ltd have voted against the scheme of arrangement put forward by Reliance Reliance Industries Ltd (RIL) has called off a proposed transaction with Future Retail Ltd (FRL) following opposition from FRL’s secured creditors . In a filing with the stock exchanges, RIL said, “The Future Group companies comprising Future Retail Ltd (FRL) and other listed companies involved in the scheme have intimated the results of the voting on the scheme of arrangement by their shareholders and creditors at their respective meetings.” Advertis...