The shareholders’ meeting of the six listed Future Group entities on Wednesday handed over their votes to approve a plan to sell its assets to Reliance Retail on bearish grounds. The result will be known after the conclusion of two more meetings of secured and unsecured creditors of half a dozen entities to be held on Thursday.
including shareholders of listed entities
, Future Lifestyle Fashion, Future Enterprises, Future Consumer, Future Market Networks and Future Supply Chain Solutions all ended voting on Wednesday afternoon. The electronic voting window for secured and unsecured creditors also closed on Wednesday evening.
“The meeting lasted for about half an hour and it was only for voting,” said a person who attended the online FRL meeting on Wednesday. He said that the Chairman appointed by the National Company Law Tribunal presided over the meeting. “Chairman appointed by NCLT read out the issue. An oral presentation was made by Future Group to explain the plan followed by voting. Online voting was already done for a few days but today the final voting for shareholders It was the day.”
On Thursday, secured and unsecured creditors will meet to discuss and vote on a deal with Reliance.
Zeen is a next generation WordPress theme. It’s powerful, beautifully designed and comes with everything you need to engage your visitors and increase conversions.