Future group shareholders stare at possible wipeout of investments

Secured lenders get top priority in any potential recovery; Biyani stake fell across group companies as lenders seized pledged shares

Future group promoter Kishore Biyani's stake fell consistently across group companies since December 2019 after American retail major Amazon infused funds in a Future group promoter entity and the group companies started showing signs of financial distress due to closure of stores due to Covid-19 pandemic.

As lenders take Future group companies to the bankruptcy courts to recover their dues under the Insolvency and Bankruptcy Code, the shareholders of Future group companies are staring at complete  wipeout of their investments as secured lenders get top priority in any potential recovery, say lawyers.

"The fate of all Future group shareholders is