Future Group, Amazon set for long court battle as Reliance deal off

With Reliance Industries (RIL) backing out of its deal with Future Group, the only option for the Kishore Biyani-led entities is to sell each of the businesses separately to unlock value, according to a source in the know.

On Saturday RIL informed its shareholders in a stock exchange filing it would not go ahead with its deal with Future Group after the latter’s secured lenders voted against the scheme of amalgamation, leaving the company in the lurch.

Future Retail and Future Enterprises have huge debts and lenders have initiated bankruptcy proceedings against Future Retail. The other businesses that were part of the