Business Standard

Lenders in talks to sell Rs 18,850-cr Future group loans to NARCL

According to a banking source close to the development, the loans are expected to be sold in the second half of the current financial year

Future Group
Premium

Future group companies were sent to the bankruptcy court after the group failed to close a transaction with Reliance Industries, announced in August 2020

Dev Chatterjee Mumbai
Lenders to the Future group are in talks with the newly formed National Asset Reconstruction Company (NARCL) to sell loans worth Rs 18,850 crore. This comes at a time when Future group firms are facing bankruptcy proceedings in the National Company Law Tribunal (NCLT), Mumbai, and a forensic audit has been ordered by the market regulator.

A banking source close to the development said the loans are expected to be sold in the second half of the current financial year. “Banks are planning to sell loans worth Rs 10,700 crore of Future Retail and Rs 5,800 crore of Future Enterprises, among

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 18 2022 | 6:53 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com