Explained: Why has Reliance called off Future Retail takeover proposal? - The Indian Express

Some leading banks were not in favour of the proposal stating there’s ambiguity on debt recovery. “If top banks are opposing the sale to RIL, the deal is likely to fall through. The next option is to take the IBC route,” said a banking source.

Virtually calling off the proposal to buy Future Retails assets, Reliance Industries Ltd (RIL) on Saturday said the takeover proposal cant be implemented as secured creditors rejected the RIL plan.On… [+3537 chars]

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