NCLT Mumbai Approves Reliance Retail’s ₹170 Crore Plan To Acquire Future Supply Chain

The Mumbai Bench of the NCLT has approved Reliance Retail Ventures Ltd’s ₹170 crore resolution plan to acquire Kishore Biyani-promoted Future Supply Chain Solutions Ltd (FSCSL).

The Committee of Creditors approved the plan with 91.71% votes. Major lenders included the Azim Premji Trust, SBI, IDFC First Bank, and JC Flowers ARC, with total admitted claims of ₹885 crore.

The tribunal, led by Judicial Member Lakshmi Gurung and Technical Member Hariharan Neelakanta Iyer, said the approval would not affect FSCSL’s existing consents, licenses, or permits. FSCSL entered CIRP in January 2023.