Future Group has put on hold a planned realignment of Pantaloon Retail India (PRIL) due to legal issues related to the government's FDI policy, Chief Executive Officer Kishore Biyani said today.

"The realignment is not happening right now. There are some legal issues. We are waiting for feedback from our legal team on this," Future Group founder and CEO Kishore Biyani told reporters here.

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In April, the board of directors of the BSE-listed company had proposed to set up multiple subsidiaries to focus on specific business segments.

The board had proposed to rechristen PRIL as Future Merchandise & Consumer Group (FMCG Ltd), meant to be a holding company for two main subsidiaries focusing on fashion and value retail.

"The realignment will happen but we cannot say by when. There are legal issues regarding foreign direct investment policy, which need to be sorted out first," PRIL Chairman Shailesh Haribhakti said.

Currently, FDI is prohibited in retail trading except for single brand, where 51 per cent foreign investment is permitted.

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