Debt relief coming in for Kishore Biyani backed Future Retail as lenders agree to recast the debt. The recast as per filing has been done under the RBI's Covid-19 framework.
The debt recast of Future Retail includes repayment of loans to be extended upto a maximum of 2 years and also a pause in interest payments between March 1, 2020 to September 30, 2021.
With a total of over Rs 10,000 cr debt outstanding Future Retail is the largest debtor in the Biyani group, the total debt for the group stands at about Rs 21,000 crore.