There was a race to buy this bankrupt company, now Ambani-Adani are out in the race
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Ambani-Adani out of the race
According to the report of ET Now, Reliance Retail and Adani Group of India’s two largest company Reliance Industries (RIL) are now out of the race to buy Future Group of Big Bazaar. Now 6 companies are in the race to buy Future Group. Ambani and Adani’s company is out of this race. Only six companies have come forward for the final round of bidding for Future Retail. Space Mantra company has placed the biggest bid in this. Apart from this, Pinnacle Air, Palgun Tech LLC, Goodwill Furniture, Sarvabhista E-Waste Management and Lehar Solutions are among those to buy the company.
49 companies were in the race
49 companies were in the race to buy Future Retail. These companies had given expression of interest. Financial creditors have claimed Rs 20,000 crore from Future Retail. At the same time, NCLT has given Future Group 90 days for this insolvency resolution. Now six companies have bid for the final round to buy this company.
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