Future holds meet to clear sale to RIL

Future Retail Ltd (FRL) on Wednesday held a meeting of its shareholders to consider and approve the sale of the company’s retail assets to billionaire Mukesh Ambani’s Reliance Retail Ventures Ltd.
Future holds meet to clear sale to RIL

NEW DELHI: The meeting was chaired by Shailesh Haribhakti, FRL said in a regulatory filing. Haribhakti has been appointed by the NCLT to chair the meeting.

The result of the voting will be announced in due course, it added. The meeting was held through video conferencing and “requisite quorum was present”, the filing added.

“The NCLT convened Meeting of the Shareholders of FRL was held on Wednesday, April 20, 2022 at 12:00 noon through Video Conference (VC/Other Audio-Visual Means) pursuant to the directions issued by Mumbai Bench of NCLT...,” it said.

During the meeting, queries on the deal were received and all aspects were made clear to the shareholders.

On Thursday, FRL has scheduled meetings of its creditors, as per directions of NCLT.

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