April 21, 2024 18:13 (IST)
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Lenders disappointed with Jindal's Rs 301 cr bid for debt-laden Future Enterprises

Kolkata: Jindal (India) has bid Rs 301 crore for Future Enterprises, which is less than 3% of the total Rs 12,265-crore loan exposure, rendering it almost inconsequential to lenders, ET reported.

Future Enterprises declared insolvent, to be auctioned off

Mumbai: After Future Retail, another Kishore Biyani-owned company, Future Enterprises, has been admitted to insolvency resolution and will be auctioned off in order to collect outstanding debts, a report in the media said.

NCLT allows insolvency proceedings against Future Retail

The Mumbai bench of the National Company Law Tribunal (NCLT) allowed a consortium of lenders, led by Bank of India, to initiate insolvency proceedings against debt-laden Future Retail, media reports said.

Amazon writes to independent directors of Future Retail, accuses them of 'fraudulent stratagem'

Amazon has written to the independent directors of Future Retail Ltd (FRL), accusing them of facilitating a "fraudulent stratagem" of transferring 835 stores to billionaire Mukesh Ambani's Reliance Retail.

Reliance cancels Rs 24,700 cr deal with Future group after secured creditors oppose it

Mumbai: A day after secured creditors, primarily banks and financial institutions, of Future Retail rejected the Rs 24,713 crore deal with Reliance Group, billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) on Saturday said that the scheme of arrangement cannot be implemented.

Debt-ridden Future Retail pays $14 million as interest on USD notes

Mumbai/IBNS: Future Retail has paid $14 million (around Rs 104.55 crore) in interest due on the dollar-denominated notes (USD Notes) listed on the Singapore Stock Exchange.   

Future Retail accuses Amazon of blocking its OTR scheme, asks US etailer to pay the lenders

Amazon's January 19 letter opposing the sale of small-format stores by Future Retail Limited (FRL) has elicited a terse response from the latter's independent directors, who asked the e-commerce giant to pay Rs 3,500 crore to FRL so that it can repay its lenders, media reports said.