The acquisition of Future Group by Reliance Industries is the only way out, in the long run, said the second person, also a senior banker. Bankers said that while Future Group still has some time left before the moratorium ends, it must act fast. “The value impairment of Future Retail could be significant if the business has performed badly in the past year. Spokespeople for Future Group and Union Bank of India, the lead lender, did not respond to emails sent on Tuesday. SIAC will now hear the case between Amazon and Future Group on 12 July.

Source: Mint July 06, 2021 18:56 UTC