Reliance extends operational support to cash-strapped Future Retail: Report

Reliance Industries Limited has extended a helping hand to Kishore Biyani-led Future Retail, which is on the verge of a financial collapse. Both Future Group and RIL are now eagerly waiting for regulatory approvals for a Rs 24,713 crore deal they entered last year. Here is all you need to know

Reliance Industries Limited (RIL) has agreed to extend operational help to cash-strapped Future Retail, which is on the verge of a financial collapse. The Kishore Biyani-led Future Group had been depending on the deal with Reliance to sell retail assets for Rs 24,713 crore, but it is yet to get approval from competent authorities. It may be noted that the National Company Law Tribunal (NCLT) has adjourned the case till March 15. The above development has been reported by livemint newspaper, citing a few people directly aware of the matter.