Lenders to Kishore Biyanis Future Group are planning to proceed with the restructuring of the debt owed by group companies under the Reserve Bank of Indias one-time restructuring scheme, three people with direct knowledge of the matter said.
Lenders led by State Bank of India have asked for restructuring plans to be submitted so they may conclude the process under the scheme by March 31. The scheme was invoked in November 2020, giving lenders time till May 2021 to implement a plan.
The companies seeking debt restructuring include flagship Future Retail Ltd., fast-moving consumer goods company Future Consumer Ltd., apparel company Future Lifestyle Fashions Ltd., logistics firm Future Supply Chain Solutions Ltd, among others, according to…
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