Mumbai: Deloitte-backed resolution professional Vijaykumar Iyer sought a fresh opportunity to seek new bids for Future Retail, springing a surprise for the lenders that rejected Space Mantra‘s Rs 550-crore buyout offer Saturday evening, people aware of the development told ET. Instantly and unanimously, lenders rejected his proposal to restart the process, the people said.
Voting results declared by RP late Sunday evening showed that 58% of lenders voted against the plan, the people said.
Kishore Biyani-promoted Future Retail, which is undergoing a corporate insolvency process, received only one eligible resolution plan from Space Mantra even as large conglomerates such as Adani Group and Reliance Industries had made expressions of intere…
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