Lenders to India's Future Group reject $3.4b sale of retail assets to Reliance

Lenders to India's Future Group reject $3.4b sale of retail assets to Reliance

Future Group chairman Kishore Biyani. Photo: Hemant Mishra/Mint

Future Group’s lenders have rejected a $3.4 billion sale of the Indian group’s retail assets to Reliance Industries, banking sources said, adding to Future‘s struggles to pay off debt after it was hit hard by the COVID-19 pandemic.