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business

Banks wary of delay in Future funding plan

Burdened with debt, Biyani chose to sell the cash-strapped group’s assets to Mukesh Ambani’s Reliance Industries Ltd for ₹24,713 crore in August last year.
The acquisition of Future Group by Reliance Industries is the only way out, in the long run, said the second person, also a senior banker.(File photo)
The acquisition of Future Group by Reliance Industries is the only way out, in the long run, said the second person, also a senior banker.(File photo)
Published on Jul 07, 2021 12:00 AM IST
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ByShayan Ghosh, Kalpana Pathak, Mumbai
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business

FRL lenders clear recast, await Kamath panel nod

A group of 28 lenders approved extension of loan repayment period by up to two years.
On an aggregate basis, Future Group owes around $3 billion in loans and lenders are trying to figure out a way to ensure the least possible hit on asset quality.(Mint)
On an aggregate basis, Future Group owes around $3 billion in loans and lenders are trying to figure out a way to ensure the least possible hit on asset quality.(Mint)
Updated on Apr 19, 2021 12:36 AM IST
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ByShayan Ghosh, Hindustan Times, Mumbai
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india news

News updates from HT: PM Modi urges bolstering of indigenous defence manufacture

Here are today’s top news, analysis, and opinion. Know all about the latest news and other news updates from Hindustan Times.
Prime Minister Narendra Modi on Monday outlined that the country now has to step out from an import-dependent status and fast track its defence manufacturing capabilities. (PTI Photo)(PTI)
Prime Minister Narendra Modi on Monday outlined that the country now has to step out from an import-dependent status and fast track its defence manufacturing capabilities. (PTI Photo)(PTI)
Updated on Feb 22, 2021 01:00 PM IST
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Byhindustantimes.com, Hindustan Times, New Delhi
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business

Future Group creditors scramble to recover $2.5 billion loans

  • Future, India's No.2 retailer with more than 1,700 stores, has been hit hard by the pandemic and agreed to sell most of its retail assets to Mukesh Ambani-led Reliance in a $3.4 billion deal. The transaction, however, has faced legal hurdles with e-commerce giant Amazon.
The Future group and Amazon have been locked in a battle after the US-based company took FRL into an emergency arbitration over alleged breach of contract.
The Future group and Amazon have been locked in a battle after the US-based company took FRL into an emergency arbitration over alleged breach of contract.
Published on Feb 16, 2021 02:03 PM IST
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business

Advantage Future Group as HC lifts stay on Reliance deal

The judges rejected a plea by Amazon to keep its order in abeyance for a week, and said they saw no reason to maintain status quo on the Future Retail assets.
A man walks inside the Big Bazaar retail store in Mumbai, India. (Reuters)
A man walks inside the Big Bazaar retail store in Mumbai, India. (Reuters)
Published on Feb 09, 2021 02:16 AM IST
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ByRicha banka, New Delhi
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