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Future group on brink of collapse, lenders begin work to take firms to NCLT

Banks have already made provisions for loans give to entities like Future Retail and Future Enterprises

Future Consumer is focusing more on home, personal care with 'smart' brands

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Lenders led by state-owned Bank of India last week took Future Retail Ltd, a non-performing asset, to NCLT.

3 min read Last Updated : Apr 23 2022 | 10:56 PM IST

Lenders to Future group companies are preparing legal action, which includes reference to National Company Law Tribunal (NCLT), to recover dues and secure their interests after the retail chain’s deal to sell the business to Reliance Industries collapsed.

Lenders led by state-owned Bank of India last week took Future Retail Ltd, a non-performing asset, to NCLT and their application is under process.

Senior public sector bankers said the fate of all Future group entities is tied and they would all be brought before NCLT. While in the beginning there may be separate action for each entity for NCLT, the option

Topics : Future Group Future Retail National Company Law Tribunal

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