Channel: STUDY IAS

Category: Education

Tags: reliance industriesreliance called off future retail takeover proposalfuture retail share newsfuture retail

Description: Virtually calling off the proposal to buy Future Retail’s assets, Reliance Industries Ltd (RIL) on Saturday said the takeover proposal can’t be implemented as secured creditors rejected the RIL plan. On Friday, secured lenders rejected Future Retail Limited’s (FRL) Rs 24,713 crore deal to sell its assets to Reliance Retail Ventures Ltd (RRVL), a subsidiary of RIL. “The shareholders and unsecured creditors of FRL have voted in favour of the scheme. But the secured creditors of FRL have voted against the scheme. In view thereof, the subject scheme of arrangement cannot be implemented,” RIL said in a regulatory filing. According to an exchange filing, in the secured creditors e-voting, 69.29 per cent of the votes of 11 lenders were against the proposal to sell the assets to the RIL subsidiary. However, 30.71 per cent of the votes of 34 lenders favoured the sale of assets. #Reliance #futuregroups #RRVL #exchangefilling #RIL #currentaffairs2022 #currentaffairs2022january #currentaffairs2022february #currentaffairs2022inenglish #currentaffairs2022inhindi #currentaffairs2022march #currentaffairs2022malayalam #currentaffairs2022today #currentaffairs2022pakistan #currentaffairs2022bygauravsir #currentaffairs2022inkannada #currentaffairs2022upscprelims #currentaffairs2022bangladesh #currentaffairs2022ingujarati #currentaffairs2022mpsc #currentaffairs2022and #currentaffairs2022and2021 #currentaffairs2022andanswers #currentaffairs2022andhrapradesh #currentaffairs2022andgeneralknowledge #currentaffairsand2022 #currentaffairs2022januaryandfebruary #currentaffairs2022scienceandtechnology #currentaffairs2022nationalandinternational #currentaffairs2022jammuandkashmir #currentaffairs2021and2022inenglish #currentaffairs2021and2022inhindi #gkandcurrentaffairs2022 #awardandhonourcurrentaffairs2022 #artandculturecurrentaffairs2022#upscias #upsciashindi #upsciasformfillup2022 #upsciassyllabus #upsciasinterview #upsciasstatus #upsciasfirojalam #upsciasprelimsquestionpaper2021 #upsciasmotivationalvideo #upsciassyllabus2022 #upsciasmotivation #upsciasinterviewinhindi #upsciassyllabus2021inhindi #upsciasrank1interview #upsciasformfilling2022lastdate #upsciasand #upsciasandips #upsciasandifssyllabus #upsciasandifs #upsciasandipssyllabus #upsciasandifsdifference #upsciasandies2022 #upsciasandifs2022 #upscandiasinterview #upscandias #upscandiasfullform #upscandiasdifference #upsciasinhindi #upsciasintamil #upsciassalaryandperks