Some relief on the cards for Kishore Biyani's Future Retail even as the legal tussle with Amazon continues to halt sale to Reliance. Reports indicate Future Retails’ lenders may give a 2 year relief on loan repayments.
Bankers lending to Future Retail approve a debt recast plan for the company by the end of this month and is likely to include a two-year moratorium on repayments but keep interest rate being charged the same.
Lenders are considering all options to recover more than $2.5 billion in loans owed by Biyani backed Future group as the sale to Reliance remains in a limbo.