The National Company Law Tribunal (NCLT) on Monday allowed the creditors and shareholders of Reliance Retail Ventures to hold meetings to seek approval for the firm’s proposed ₹24,700 crore deal with the Future Group.
The Mumbai bench of NCLT allowed the application by Reliance Retail’s creditors and shareholders to convene meetings to seek approval for the deal.
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Reliance Retail Ventures is a subsidiary of Reliance Industries. On June 22, the tribunal had reserved its order on Reliance Retail’s plea to seek consensus of the shareholders on the company’s deal with Future Group.
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