Future Enterprises’ board of directors has approved a resolution plan to restructure the existing secured financial debt from the bankers of the Company (Existing Debt), as permitted under the Resolution Framework for COVID 19 related Stress announced by the Reserve Bank of India vide circular dated August 6, 2020 (COVID Resolution Framework). The said resolution plan, which remains subject to the approval of the Expert Committee (under the chairmanship of the K. V. Karnath) constituted by the Reserve Bank of India, has been approved by the lenders to the Existing Debt. The board of directors of the company at its meeting held on April 19, 2021, has approved the same.
Future Enterprises develops, owns and leases the retail infrastructure for the Group. The company also holds the Group’s investments in subsidiaries and joint ventures including insurance, textile manufacturing, supply chain and logistics.
