Debt-ridden Kishore Biyani's Future Group will now focus on savings and revamping some companies. Future Lifestyle Fashion, Future Supply Chain Solutions, Future Consumer, and Future Enterprises are planned to be rebuilt.
There are plans to restructure their debt to these companies through lending institutions. However, group company Future Retail has a debt of Rs 18,000 crore. It may face the corporate insolvency resolution process under the National Law Tribunal (NCLT). Future Enterprises has a debt of Rs 5000 crore. The company will raise Rs 3,000 crore by selling its stake in Future Generali Insurance.
the deal between the two companies
According to sources, the deal has been finalized between the two. After this, it will be left with a debt of only Rs 2,000 crore. FMCG company Future Consumer has about 110 acres of food park in Karnataka, which can be leveraged to revive the company. Whereas Future Supply Chain Solutions has warehouses across the country. It has the largest and most modern warehouse in Nagpur. So there is a lot of enthusiasm among investors about it.
no default of future lifestyle
Future Lifestyle, a Future Group company, has not defaulted on debt payments so far. So the group can raise money by selling some of its brands. It has many brands like Brand Factory and Central. After Corona, there has also been a good improvement in its business.
Deal with Reliance ends
On Saturday itself, a deal worth Rs 24,713 crore between Future Group and Reliance was broken. Future Enterprises had failed to clear dues of Rs 2,911 crore last week. Share prices of group companies fell sharply on Monday. Shares of Future Enterprise closed down almost 10 percent, while Future Consumer, Future Lifestyle 20-20, and Future Retail closed down 5 percent.
'Don't play games in the name of religion', Rashami Desai got angry at Urvashi rautela's statement on the temple
Urvashi Rautela may not be a top Bollywood actress, but she becomes the most talked about topic on social media due to her statements. Earlier, the actress was trolled a lot for the steps of her song
Elvish's Yadav 'System': Now problems for close ones will increase! The name of this singer is at the top; Many people on police radar
YouTuber Elvish Yadav, who was in jail for supplying snake venom at a rave party, was shifted to a high-security barrack on Tuesday. On Sunday, Elvish was kept in the quarantine barrack of Luxor
Free ration scheme extended again for three months, DA's Diwali gift to central employees too
Giving a big relief to the poor population of the country, the central government has decided to extend the scheme of giving free rations for three more months. The scheme was to end on 30 September.
The second disaster waiting after the floods in Pakistan may come 'wave of death
Thousands of people have lost their lives in the unprecedented floods in Pakistan. This disaster caused by climate change has also caused great damage to Pakistan at the economic level. Lakhs of
Manipur Violence: CBI's 'Special 53' team to investigate Manipur violence, 29 women officers also included
A list of 53 officers, including 29 women officers of various ranks, has been released on Wednesday for the investigation of caste violence in Manipur. 29 women, including two women DIG rank officers,
'I worked for 70 hours, but I cannot force anyone to do so', Narayan Murthy's new statement.
Infosys co-founder NRN Narayana Murthy has said that no one can be forced to work for long hours. But, everyone should think about it themselves and understand its need.
Karnataka Police will summon Shakti Kapoor's son Siddhant Kapoor again, will have to appear in a week!
Siddhanth Kapoor Controversy: The Karnataka Police probing the drugs case involving Siddhanth Kapoor, son of Bollywood actor Shakti Kapoor, will summon him for further investigation. Police say that
CBSE 12th Result 2024: Trivandrum leads with a 99.91% pass percentage, know region-wise pass percentage here
CBSE 12th Result 2024: CBSE Board has released the class 12th result. Class 12th students can check their results immediately by visiting the official website. This time 87.98%
History of Gyanvapi: The case is in court for 32 years, and both sides are in the hope of justice, know what is the conclusion so far
In the matter of the scientific survey of Gyanvapi in Varanasi, the Muslim side got a big blow from the Allahabad High Court on Thursday. The court refused to ban the Archaeological Survey of India
Army Commanders Conference 2022: On the last day of the five-day conference today, the changing nature of the war was discussed; Defense Minister praised the army
The five-day biennial conference of the top Army commanders is ending on Friday. In these five days, there was a discussion about the changing nature of the war and the country's preparedness to
