Big relief for Biyani, lenders agree to recast loans as Amazon's legal tussle continues | Editorji
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Big relief for Biyani, lenders agree to recast loans as Amazon's legal tussle continues

Apr 18, 2021 09:37 IST | By Editorji News Desk

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.

 

Business