 "Kishore Biyani")
Lenders have rejected the slump sale proposal of Kishore Biyani’s Future Group to Reliance Retail Ventures (RRVL), multiple sources confirmed to Business Standard after the e-voting was conducted on Thursday.
Bankers cited “uncertainty over the entire proposition” for rejecting the proposal.
The voting was conducted in accordance with an order of the National Company Law Tribunal (NCLT) issued on February 28 after the Supreme Court allowed Future Group companies to convene a meeting of shareholders and secured and unsecured creditors to seek their approval for the Rs 24,713-crore deal with RRVL.
Shareholders of the six listed Future Group companies submitted their votes on
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