Future group bankers may take 40% haircut even after key biz sale to RIL

As per a plan negotiated between Kishore Biyani, Indian lenders and RIL, banks will have to wait till RIL invests in Future Enterprises after three other group firms are merged into it

The lenders to Future Group companies are expected to take a 40 per cent haircut on their exposure to the group even after the company’s main businesses are sold to Reliance Industries (RIL). Though the banks have been offered the real estate of Future Group companies, it will take some time for the banks to recover Rs 13,000-crore dues.

According to a plan negotiated between Kishore Biyani, promoter of Future Group, Indian lenders and RIL, the banks will have to wait till RIL invests money in Future Enterprises after three other group companies are merged into it. 

“By the time the merger