Future Enterprises board meet on group firms' merger postponed by a week

The plan to merge the three Future group companies - Future Lifestyle, Future Supply Chain and Future Retail - is being worked out among banks, RIL and Future group, say sources

A crucial board meeting of Future Enterprises (FEL) which was scheduled to be held on Saturday and expected to discuss the merger of three group companies has been postponed by a week.

In a statement to the stock exchanges, FEL did not give any reason for the postponement of the meeting. But insiders said the plan to merge the three Future group companies — Future Lifestyle, Future Supply Chain and Future Retail — is being worked out among the banks, RIL and Future group.

According to the plan, banks will lend money to the Future group so that it does not default