Secured creditors of Future Retail reject deal with Reliance Retail

A majority of 69.29 per cent of secured creditors of FRL voted against the resolution while 30.71 per cent voted in favour: Company.

A majority of secured creditors of Future Retail Ltd (FRL) have rejected the Rs 24,713-crore deal between the Kishore Biyani-led retail major and billionaire Mukesh Ambani's Reliance Retail, according to a regulatory filing.

While more than 75 per cent of shareholders and unsecured creditors supported the deal, FRL did not get the requisite 75 per cent favourable voting from secured creditors.

A majority of 69.29 per cent of secured creditors of FRL voted against the resolution while 30.71 per cent voted in favour of it, FRL said in a regulatory filing. While 85.94 per cent of shareholders have voted in favour of