Reliance Retail gets a go ahead from NCLT to seek creditors' nod on deal with Future Group
The National Company Law Tribunal (NCLT) has given a nod to the creditors and shareholders of Reliance Retail Ventures to hold meetings to seek approval for the company's proposed Rs 24,700 crore deal with the Future Group.
NCLT’s Mumbai bench which is led by Suchitra Kanuparthi has allowed the application by Reliance Retail's creditors and shareholders to convene meetings to seek approval for the deal.
NCLT's detailed order in the matter is awaited.
Reliance Retail Ventures is a part of Mukesh Ambani-owned Reliance Industries.
On June 22, the tribunal had reserved its order on Reliance Retail's plea to seek consensus of the shareholders on the company's deal with Future Group.
Before this, on a similar petition by the Future Group, the NCLT gave a nod in holding meetings of the creditors and shareholders for seeking approval for the transaction.
On October 1, 2021, Reliance Retail extended the long-stop date for the completion of its deal with Kishore Biyani-led Future Group by another six months to March 2022, due to the delays ensuing from the ongoing legal battle with the US-based Amazon.
INTERVIEWS
TOP VIDEOS
SECURITY
SOFTWARE
Adobe to deliver personalized digital customer experiences globally for TeamViewer
At Adobe Summit EMEA 2023, Adobe announced that TeamViewer has selected Ado...
Salesforce rolls out Marketing GPT and Commerce GPT to personalize campaigns and shopping experience
At Connections, Salesforce introduced its latest generative AI product offerings, Marketin...
Blackstone portfolio company R Systems takes over Velotio
R Systems announced that it has signed definitive agreements to acquire Velotio, an India-...
START - UP
PERIPHERALS
INDUSTRY EVENTS
Kingston showcases New Non-Binary DDR5 Memory and XS1000 External SSD in COMPUTEX 2023
Kingston Technology has announced it will make a grand return to COMPUTEX Taipei event aft...
Genesys creating an exceptional Customer Experience leveraging the skillful orchestration of Employee Experience
To recognise its strategic partners advancing the industry, Genesys, organised the APAC Pa...
TDC Captures the Beauty of our Natural World at Vivid Sydney 2023
Sydney, Australia, May 2023 – It would be easy for a company like TDC – T...
MediaTek organizes its 12th Chapter of Technology Diaries
MediaTek has hosted its 12th Chapter of Technology Diaries themed ‘The Vision to Go...
E- COMMERCE
